Please Answer precisely and clearly. Thank you Q3: DeficitsBased on Abel, Bernanke and Croushore, 10th edition, Chapter 15, Numerical Problems, No. 3.Because of automatic stabilizers, various components of the government's budget depend onthe level of out put, Y. The following are the main components of that bud get:THx revenues:1000 +0.1YTransfers:800 – 0.05YGovernment purchases:1800Interest paymlents:100Full-employment out put is 10,000. Find the full-employment budget deficit and the actualbudget deficit for (a) Y = 12, 000 and (b) Y = 8,000.In general, how does the relationship between the actual deficit and the full-employment deficitdepend on the state of the economy?

Q3: Deficits Based on Abel, Bernanke and Croushore, 10th edition, Chapter 15, Numerical Problems, No. 3. Because of automatic stabilizers, various components of the government's budget depend on the level of out put, Y. The following are the main components of that bud get: Тах гevenues: 1000 +0.1Y Transfers: 800 – 0.05Y Government purchases: 1800 Interest payments: 100 Full-employment out put is 10,000. Find the full-emplayment budget deficit and the actual budget deficit for (a) Y = 12, 000 and (b) Y = 8,000. In general, how does the relationship between the actual deficit and the full-employment deficit depend on the state of the economy?

Q3: Deficits Based on Abel, Bernanke and Croushore, 10th edition, Chapter 15, Numerical Problems, No. 3. Because of automatic stabilizers, various components of the government's budget depend on the level of out put, Y. The following are the main components of that bud get: Тах гevenues: 1000 +0.1Y Transfers: 800 – 0.05Y Government purchases: 1800 Interest payments: 100 Full-employment out put is 10,000. Find the full-emplayment budget deficit and the actual budget deficit for (a) Y = 12, 000 and (b) Y = 8,000. In general, how does the relationship between the actual deficit and the full-employment deficit depend on the state of the economy?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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