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. What is output in year 1?
A)$800 million
B)$800 billion
C)$19.2 million
D)$19.2 billion

Question

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. What is output in year 1?
A)$800 million 
B)$800 billion 
C)$19.2 million 
D)$19.2 billion

Quizplus · Accepted Answer

The Answer of 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. What is output in year 1?
A)$800 million 
B)$800 billion 
C)$19.2 million 
D)$19.2 billion

Refer to the Graph