Refer to the graph. The economy begins at a level of output of $20 billion and experiences a one year recession in which output declines by 4 percent. By what rate per year must the economy expand, after it has reached its trough, to return to its potential output by year 3?
A. About 8 percent
B. About 5 percent
C. About 10 percent
D. About 3 percent
Answer: B
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The above figure shows the market for pizza. The market is in equilibrium when people's incomes decrease. If pizza is a normal good, then which point represents the most likely new price and quantity?
A) A B) B C) C D) D E) E
Which of the following is an example of a normative statement?
A. The American Recovery and Reinvestment Act should not have been passed during the Great Recession. B. Unemployment soared to 25 percent during the Great Depression. C. An increase in alcohol taxes will reduce the number of drunk driving accidents. D. Great Britain has fewer hospital beds per capita today than they did in 1948.
The output per acre on U.S. farms has
a. remained fairly stagnant since 1968 b. increased only slightly since 1968 c. declined dramatically since the late 1970s d. more than doubled since World War II e. shown a marked decline in recent years
Securities and exchange commission
What will be an ideal response?