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Go to the BEA website, https://www.bea.gov/iTable, and nd data for Value Added by Industry (under Industry Economic Data, GDP-by-industry).
(a) What was the growth rate of the nominal GDP between years 2008 and 2009?
(b) Looking at major private industries that are marked bold (such as Agriculture, Mining, Utilities, Construction, Manufacturing, Wholesale trade etc.), identify two industries for which the percentage decreases in the value added between 2008 and 2009 were the largest. (You can download data in Excel format in order to do that.) What are these changes equal to?
(c) Discuss your results in part (b) { why these industries?
(d) Do you think that these declines come from drops in prices alone or also drops in quantities? Find data on the BEA website to answer this question.
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