What might have caused real GDP to decline so dramatically in (a) 1929 and (b) 1946 (see

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What might have caused real GDP to decline so dramatically in (a) 1929 and (b) 1946 (see Figure 8.3)? What caused output to increase again in each case?

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The Macro Economy Today

ISBN: 978-1259291821

14th edition

Authors: Bradley R. Schiller, Karen Gebhardt

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Question Posted: May 03, 2018 08:46 AM

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What might have caused real GDP to decline so dramatically in (a) 1929 and (b) 1946 (see

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A likely explanation in both cases was a decrease in aggreg...View the full answer

The Macro Economy Today

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