Refer to the Following Figure When Answering the Next Five $\tilde { Y } _ { t }$

question 23

Multiple Choice

Refer to the following figure when answering the next five questions.
Figure 9.2: U.S. Output Fluctuations 1960-2012
(Source: BEA and CBO, data from Federal Reserve Economic Data, St. Louis Federal Reserve)
-Consider Figure 9.2. The line represents short-run fluctuations, $\tilde { Y } _ { t }$ . Since 1960, the largest boom was in about ________ and the deepest recession was in about ________.

• A) 1983; 1965
• B) 1974; 1976
• C) 2000; 1983
• D) 1966; 1983
• E) The economy always produces at its potential.

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