If the nominal (market) interest rate is 8% and the real interest rate is 12%, then the expected inflation rate must equal?
Real interest rate = Nominal interest rate - Inflation rate
R = N - I
The Great Depression, from 1929 through 1939, inclusive
consisted of two deep troughs
During the Great Depression that ranged from approximately 1929 to 1939, the unemployment rate (of the U.S. labor force) reached the highest level in history of the U.S. What percent of the labor force was unemployed during the worst part of the Great Depression?
Between 1929 and 1933, real output in the U.S. fell by
33% (or 1/3)
According to the N.B.E.R., during what period in history did the U.S. economy move from year 2 to year 4 on the figure above?