Refer to the graph shown. The economy begins at a level of output of $50 billion and experiences a one year recession in which output declines by 3 percent. What is output in year 1?
A)$1.50 billion
B)$15 billion
C)$48.5 million
D)$51.5 billion

Question

Refer to the graph shown. The economy begins at a level of output of $50 billion and experiences a one year recession in which output declines by 3 percent. What is output in year 1? 
A)$1.50 billion 
B)$15 billion 
C)$48.5 million 
D)$51.5 billion

Quizplus · Accepted Answer

The Answer of Refer to the graph shown. The economy begins at a level of output of $50 billion and experiences a one year recession in which output declines by 3 percent. What is output in year 1? 
A)$1.50 billion 
B)$15 billion 
C)$48.5 million 
D)$51.5 billion

Refer to the Graph Shown