PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Steve Dietrich who wrote (553824)	3/20/2004 1:17:17 PM
From: Peter O'Brien	Read Replies (1) of 769670

data sources for 1920's: This source shows that raw GNP grew from $69.6B in 1921 to $103.1B in 1929: polyconomics.com This source shows that prices actually declined over this 8-year period by 4.5%: arts.bev.net Thus, the $103.1B GNP for 1929 is actually equal to ($103.1B)/(0.955) = $108.0B in constant 1921 dollars. This means real growth over the 8-year period was (($108.0B)/($69.6B) - 1.0)*100.0 = 55.2%. Over an 8-year period, this is a compound average growth rate of 5.6%

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