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

question 42

Multiple Choice

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

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Definitions:

Unconditional Promise

A commitment that does not depend on any conditions to be fulfilled; it is absolute and unequivocal.

Negotiable

Capable of being discussed, transferred, or modified in terms of conditions or agreement.

Maker

In the context of negotiable instruments, the individual or entity that creates and signs the instrument, promising to pay the specified amount.

Liability

Liability is the legal responsibility to settle debts or legal claims. This encompasses both financial obligations and the duty to compensate for harm or damage caused.