If Current Output Is $Y _ { t } = \$ 12$

Multiple Choice

If current output is $Y _ { t } = \$ 12$ billion and potential output $\bar { Y } _ { t } = \$ 11.25$
Billion, then the economy is in a ________ and $\tilde { Y } _ { t }$ Is about ________.

A) boom; $- 6.7$ percent
B) recession; $- 6.7$ percent
C) recession; $- 6.2$ percent
D) boom; 6.7 percent
E) None of these answers are correct.