The graph shows the outlays and receipts curves for an economy. Draw a vertical line at a value of potential GDP at which a structural surplus exists. Label it 1. Draw a vertical line at a value of potential GDP at which a structural deficit exists. Label it 2. The structural surplus or deficit OA. equals zero when the economy is in an expansion OB. is a cyclical phenomenon OC. is the budget balance that would occur if the economy were at full employment O D. is the actual budget balance

The graph shows the outlays and receipts curves for an economy. Draw a vertical line at a value of potential GDP at which a structural surplus exists. Label it 1. Draw a vertical line at a value of potential GDP at which a structural deficit exists. Label it 2. The structural surplus or deficit OA. equals zero when the economy is in an expansion OB. is a cyclical phenomenon OC. is the budget balance that would occur if the economy were at full employment O D. is the actual budget balance

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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