What were the approximate levels ($) of real GDP in the 2nd and 3rd quarters of 2020? (HINT: Use your estimates of real GDP growth to calculate the levels.) 2020:Q2 16,9582020:Q3 18,777 2020:Q2 18,6502020:Q3 18,902 2020:Q2 17,3032020:Q3 18,584 2020:Q2 18,2602020:Q3 19,343

To get the growth rate in real GDP on a quarterly basis: Growth rate, g = (Q3-Q2)*100/Q2

Answered: What were the approximate levels ($) of…

Macroeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506756

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter7: Taking The Nation's Economic Pulse

Section: Chapter Questions

Problem 5CQ: Why might even real GDP be a misleading index of changes in output between 1950 and 2015 in the...

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What were the approximate levels ($) of real GDP in the 2^nd and 3^rd quarters of 2020? (HINT: Use your estimates of real GDP growth to calculate the levels.)

		2020:Q2 16,958 2020:Q3 18,777
		2020:Q2 18,650 2020:Q3 18,902
		2020:Q2 17,303 2020:Q3 18,584
		2020:Q2 18,260 2020:Q3 19,343

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