Between 1929 and 1933, NNP Measured in Current Prices Fell

question 151

Essay

Between 1929 and 1933, NNP measured in current prices fell from $96 billion to $48 billion. Over the same period, the relevant price index fell from 100 to 75.
a.What was the percentage decline in nominal NNP from 1929 to1933?
b.What was the percentage decline in real NNP from 1929 to 1933? Show your work.

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Definitions:

Eczema

A condition causing inflamed, itchy, cracked, and rough skin patches, sometimes accompanied by blisters.

Hygiene

Practices and conditions that help to maintain health and prevent the spread of diseases, typically through cleanliness.

Cilia

Short, hair-like projections that line certain parts of the human body, such as the respiratory tract, moving in a wave-like motion to transport mucus and trapped particles.

Tympanic Membrane

Also known as the eardrum, a thin membrane that separates the outer ear from the middle ear and vibrates in response to sound waves.