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 over -6 percent
D)equaled zero;fell to -2 percent
E)was rising;unemployment was 8 percent

Question

Quizplus · Accepted Answer

The phrasing "turned negative" implies that short-run output was previously positive, and "bottomed out at over -6 percent" indicates the most severe contraction of the options given.

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

Short-Run Output in the Last Quarter of 2008 and