100 T. 80 60 40 20 O $ 100 200 300 400 500 600 700 800 900 GDP Refer to the diagram, in which T is tax revenues and Gis government expenditures Al tigures are in billions of dotars the temployment ODP S00 billion while the actual GDP is $200 bilion: (Show your calculations) a. What is the actual budget deficit? b. What is the cyclically adjusted budget deficit? c. The value of cyclically adjusted deficit identifies which type of discretionary fiscal policy? G T.G ($)
100 T. 80 60 40 20 O $ 100 200 300 400 500 600 700 800 900 GDP Refer to the diagram, in which T is tax revenues and Gis government expenditures Al tigures are in billions of dotars the temployment ODP S00 billion while the actual GDP is $200 bilion: (Show your calculations) a. What is the actual budget deficit? b. What is the cyclically adjusted budget deficit? c. The value of cyclically adjusted deficit identifies which type of discretionary fiscal policy? G T.G ($)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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