In Beyonceland, Real GDP Fell Continuously from $200 Billion in 2015

question 149

Multiple Choice

In Beyonceland, real GDP fell continuously from $200 billion in 2015 to $160 billion in 2016. Potential GDP remained constant at $180 billion. Between 2015 and 2016, Beyonceland

• A) went from a peak to a trough.
• B) had a contraction and a recession.
• C) went from a deflationary gap to an inflationary gap.
• D) went from a negative output gap to a positive output gap.
• E) had a growth rate of -25 percent.

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