GDP and the Measurement of Progress - Discovering Data The accompanying graph depicts quarterly Real GDP in the United States. Real GDP is measured in billions of dollars. ALFRED Il Billions of Chained 2009 Dollars 17,200 16,800 16,400 16,000 15,600 Q3 2005: 14,291.757 14,800 14,400 14,000 13,600 2006 2008 2010 2012 2014 1950 1075 Source: U.S. Bureau of Economic Analysis What was the highest level of real GDP prior to the 2008 recession? Enter your answer in billions of dollars and round your answer to one place after the decimal. EA $ billion 2000 2016
GDP and the Measurement of Progress - Discovering Data The accompanying graph depicts quarterly Real GDP in the United States. Real GDP is measured in billions of dollars. ALFRED Il Billions of Chained 2009 Dollars 17,200 16,800 16,400 16,000 15,600 Q3 2005: 14,291.757 14,800 14,400 14,000 13,600 2006 2008 2010 2012 2014 1950 1075 Source: U.S. Bureau of Economic Analysis What was the highest level of real GDP prior to the 2008 recession? Enter your answer in billions of dollars and round your answer to one place after the decimal. EA $ billion 2000 2016
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section: Chapter Questions
Problem 6PA
Related questions
Question
Transcribed Image Text:GDP and the Measurement of
Progress
Discovering Data
The accompanying graph depicts
quarterly Real GDP in the United States.
Real GDP is measured in billions of
dollars.
ALFRED Il
17,200
16,800
Billions of Chained 2009 Dollars
16,400
16,000
15,600
Q3 2005: 14,291.757
14,800
14,400
14,000
13,600
2006
2008
2010
2012
2014
2016
1950
1075
2000
Source: U.S. Bureau of Economic Analysis
What was the highest level of real GDP prior to the 2008 recession?
Enter your answer in billions of dollars and round your answer to one place after the decimal.
$
billion
A
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Macroeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506756
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
