The Table Below Provides Macroeconomic Data for a Hypothetical Economy

question 39

Multiple Choice

The table below provides macroeconomic data for a hypothetical economy.Dollar amounts are all in constant-dollar terms. TABLE 19-1 Refer to Table 19-1.In which years was this economy experiencing a recessionary gap?

• A)2015,2016
• B)2012,2013,2017
• C)2014,2018
• D)2012,2013,2014
• E)2016,2017,2018

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Definitions:

Average Total Cost Curve

A graphical representation showing how the average cost of production changes as the quantity of output is altered.

Total Cost

The total amount of money spent on creating goods or services, encompassing both constant and fluctuating expenses.

Producing

Producing involves the creation, manufacturing, or assembly of goods and services for sale or distribution.

Pairs

Two things considered together because of similarity, opposition, or adjacency; often used in context to describe complementary items or concepts.