The worst of the economic meltdown that came to be known as the Great Depression followed immediately after the stock market collapsed in 1929.
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The Great Depression was the worst economic disaster in U.S. history in terms of declines in real GDP and increases in the unemployment rate. Use the data in the following table to calculate the percentage decline in real GDP between 1929 and 1933 : $$\begin{array}{|c|c|c|c|c|}\hline {\text { Year }} & {\text { Nominal GDP (billions of dollars)}} & {\text { GDP Price Deflator $(2009=100)$}} \\ \hline \text { 1929 } & {\$ 104.6} & {9.9} \\ \hline \text { 1933} & {57.2} & {7.3} \\ \hline\end{array}$$
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