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Refer to the Graph Shown

question 89

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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? 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


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