Homework Help is Here – Start Your Trial Now!
Business
Economics
The graph shows how government outlays and revenues change when real GDP changes. The following graph shows how goverment revenues and outlays change when real GDP changes. Government revenues increase as real GDP increases. Government outlays fall as real GDP increases. Revenues, Outlays ($ billions) 20- 18- 16- 14- 12- 10- 8- 6- 4- 2- 0+ 0 20 40 60 80 100 120 140 160 180 200 real GDP ($ billions) Q G Suppose that potential GDP equals $60 billion and actual real GDP equals $80 billion. What is the structural budget balance? What is the cyclical budget balance? (Note: If you answer is a surplus, please enter a positive number. If your answer is a deficit, please enter a negative number.) The structural budget balance is The cyclical budget balance is

The graph shows how government outlays and revenues change when real GDP changes. The following graph shows how goverment revenues and outlays change when real GDP changes. Government revenues increase as real GDP increases. Government outlays fall as real GDP increases. Revenues, Outlays ($ billions) 20- 18- 16- 14- 12- 10- 8- 6- 4- 2- 0+ 0 20 40 60 80 100 120 140 160 180 200 real GDP ($ billions) Q G Suppose that potential GDP equals $60 billion and actual real GDP equals $80 billion. What is the structural budget balance? What is the cyclical budget balance? (Note: If you answer is a surplus, please enter a positive number. If your answer is a deficit, please enter a negative number.) The structural budget balance is The cyclical budget balance is

Economics (MindTap Course List)
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter18: Debates In Macroeconomics Over The Role And Effects Of Government
Section: Chapter Questions
Problem 1WNG
See similar textbooks
icon
Related questions
Question

please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly

The graph shows how government outlays and revenues change when real GDP changes. The following graph shows how goverment revenues and outlays change when real GDP changes. Government revenues increase as real GDP increases. Government outlays fall as real GDP increases. Revenues, Outlays ($ billions) 20- 18- 16- 14- 12- 10- 8- 6- 4- 2- 0+ 0 20 40 60 80 100 120 140 160 180 200 real GDP ($ billions) Q G Suppose that potential GDP equals $60 billion and actual real GDP equals $80 billion. What is the structural budget balance? What is the cyclical budget balance? (Note: If you answer is a surplus, please enter a positive number. If your answer is a deficit, please enter a negative number.) The structural budget balance is The cyclical budget balance is
Transcribed Image Text:The graph shows how government outlays and revenues change when real GDP changes. The following graph shows how goverment revenues and outlays change when real GDP changes. Government revenues increase as real GDP increases. Government outlays fall as real GDP increases. Revenues, Outlays ($ billions) 20- 18- 16- 14- 12- 10- 8- 6- 4- 2- 0+ 0 20 40 60 80 100 120 140 160 180 200 real GDP ($ billions) Q G Suppose that potential GDP equals $60 billion and actual real GDP equals $80 billion. What is the structural budget balance? What is the cyclical budget balance? (Note: If you answer is a surplus, please enter a positive number. If your answer is a deficit, please enter a negative number.) The structural budget balance is The cyclical budget balance is
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Economics (MindTap Course List)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Macroeconomics
Macroeconomics
Economics
ISBN:
9781337617390
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Economics:
Economics:
Economics
ISBN:
9781285859460
Author:
BOYES, William
Publisher:
Cengage Learning
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
ECON MACRO
ECON MACRO
Economics
ISBN:
9781337000529
Author:
William A. McEachern
Publisher:
Cengage Learning
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,
SEE MORE TEXTBOOKS