Download the USA GDP data in the last 70 years from FRED. Make a table showing the average growth rates in the last 70, 60, 50, 40, 30, 20 years and using these figures interpret the course of USA potential GDP growth through time. Do you think this is a good way to assess the development of potential GDP? Why/why not? Can you drive graph?

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter32: Macroeconomic Policy Around The World
Section: Chapter Questions
Problem 30P: Retrieve the following data from The World Bank database (http //databank.worldbank. org/data/...
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Download the USA GDP data in the last 70 years from FRED. Make a table showing the average growth
rates in the last 70, 60, 50, 40, 30, 20 years and using these figures interpret the course of USA potential
GDP growth through time. Do you think this is a good way to assess the development of potential GDP?
Why/why not? Can you drive graph?
Transcribed Image Text:Download the USA GDP data in the last 70 years from FRED. Make a table showing the average growth rates in the last 70, 60, 50, 40, 30, 20 years and using these figures interpret the course of USA potential GDP growth through time. Do you think this is a good way to assess the development of potential GDP? Why/why not? Can you drive graph?
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