If Current Output Is $Y _ { t } = \$ 10$

question 39

Multiple Choice

If current output is $Y _ { t } = \$ 10$ billion and potential output $\bar { Y } _ { z } = \$ 10.5$
Billion, then the economy is in a ________ and $\tilde { Y } _ { t }$ Is about ________.

• A) recession; -4.7 percent
• B) boom; 4.7 percent
• C) boom; -4.7 percent
• D) recession; -5 percent
• E) boom; 5 percent

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Heuristic

A problem-solving approach that employs a practical method or various shortcuts to produce solutions that may not be perfect but are sufficient for the immediate goals.

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Having the power or quality of settling an issue or producing a definite result.

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The ability to identify or reproduce a musical note without any external reference.

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A rare condition where someone with significant mental disabilities demonstrates certain abilities far in excess of average.