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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.
Complexity
The state or quality of being intricate or complicated, often referring to systems, problems, or processes.
Certified External Analysts
Professionals who have been officially recognized and certified to analyze and evaluate the performance, systems, or financial health of organizations from outside.
U.S. Department Of Labor
A federal department responsible for occupational safety, wage standards, unemployment insurance benefits, reemployment services, and some economic statistics.
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