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According to the article, U.S. economy sees record downturn…, real Gross Domestic Product (GDP), a broad measure of national output, fell at a 32.9
% annual rate in April through June, which was the biggest drop in the more than 70 years of record-keeping.
Which component(s) of GDP (C, I, G, NX) contributed to the steep decline in real GDP in the 2nd quarter?
Do you think that the economy will quickly recover and go back to normal within several quarters? Why or why not?
Briefly discuss your reasoning.