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Unformatted text preview: Problem Set 2 1. Reading : Economic Report of the President 2011, Chapter 2 "The Year in Review and the Years Ahead" (pp. 29-52). You will also need to use Ta- bles B1 to B5, B25 and B42 which can be found at the end of the document. You can f nd the report on the net at http://www.gpoaccess.gov/eop/ or in the Course Documents Section on Blackboard. Answer brie f y the following questions: (a) During 2010, what was real GDP growth in each quarter?. In which quarter was Real GDP growth the highest? How do these growth rates compare to growth in each quarter of the previous year? (b) Focusing on the fourth quarter, which of the four components of expenditure ( ) made positive contributions to Real GDP growth and which ones had negative contributions? (c) Comparing the f rst quarter of 2010 to the f rst quarter of 2008, in which quarter was GDP higher? How about Real GDP? Explain the di f erence....
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This note was uploaded on 02/07/2012 for the course ECO 305 taught by Professor Kisina during the Spring '08 term at SUNY Stony Brook.
- Spring '08