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1, Working with the data (20 points) Download and graph gross domestic product (GDP) and gross national product (GNP) in 2009 dollars for 1929 to...
1, Working with the data (20 points)
Download and graph gross domestic product (GDP) and gross national product (GNP) in 2009 dollars for 1929 to 2016.
Hint: to get the data, go to http://www.bea.gov, click Gross Domestic Product, click Interactive Tables: GDP and the National Income and Product Account (NIPA) Historical Tables, click: Begin using the data.. and then click: SECTION 1 - DOMESTIC PRODUCT AND INCOME. Choose table 1.7.6. Download annual data.
1) Graph both GDP and GNP on the same graph. (Just hand in the graph, no need to hand in the raw data). Is there much difference in these two measures for aggregate economic activity for the United States?
2) Calculate and graph in a separate graph, the percentage growth rate in GNP in each of the years 1930-2016 from the previous year, using the definition of growth rate.
