Business, 19.12.2019 00:31 yungdaggerdic4543

Consider the following data that identifies real gross domestic product (gdp) in comparison to the long-run trend of real gdp to answer the following questions:

quarter real gdp long-run trend of real gdp
(billions of dollars) (billions of dollars)
1 4,000 4,000
2 4,160 4,120
3 4,326 4,244
4 4,413 4,371
5 4,501 4,502
6 4,591 4,637
7 4,499 4,776
8 4,409 4,919
9 4,673 5,067
10 4,954 5,219
11 5,252 5,376
12 5,376 5,537

in what quarter did this economy enter a recession?

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Consider the following data that identifies real gross domestic product (gdp) in comparison to the l...

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