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Short-Run Output ________ in the Last Quarter of 2008 and ________

Question 2

Multiple Choice

Short-run output ________ in the last quarter of 2008 and ________ by the middle of 2009.


A) growth was flat; recovered to a modest 1.2 percent
B) was positive; fell to -3 percent
C) turned negative; bottomed out at below -7 percent
D) equaled zero; fell to -2 percent
E) was rising; unemployment was 8 percent

Correct Answer:

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