Refer to the following figure when answering the next five questions.
Figure 9.2: U.S. Output Fluctuations 1960-2012
(Source: BEA and CBO, data from Federal Reserve Economic Data, St. Louis Federal Reserve)
-Consider Figure 9.2. In 1989, the U.S. economy experienced an economic ________, and current output was about ________ potential output.
A) boom; 1 percent above
B) recession; 1 percent above
C) boom; 2 percent above
D) This cannot be determined from the information given.
E) None of these answers are correct.

Question

Refer to the following figure when answering the next five questions.
Figure 9.2: U.S. Output Fluctuations 1960-2012  
(Source: BEA and CBO, data from Federal Reserve Economic Data, St. Louis Federal Reserve)
-Consider Figure 9.2. In 1989, the U.S. economy experienced an economic ________, and current output was about ________ potential output.
A) boom; 1 percent above 
B) recession; 1 percent above 
C) boom; 2 percent above 
D) This cannot be determined from the information given. 
E) None of these answers are correct.

Quizplus · Accepted Answer

The Answer of Refer to the following figure when answering the next five questions.
Figure 9.2: U.S. Output Fluctuations 1960-2012  
(Source: BEA and CBO, data from Federal Reserve Economic Data, St. Louis Federal Reserve)
-Consider Figure 9.2. In 1989, the U.S. economy experienced an economic ________, and current output was about ________ potential output.
A) boom; 1 percent above 
B) recession; 1 percent above 
C) boom; 2 percent above 
D) This cannot be determined from the information given. 
E) None of these answers are correct.

Refer to the Following Figure When Answering the Next Five