Potential gdp of $12 trillion and if real gdp equaled potential gdp, the budget deficit would be $1 trillion.
real gdp actually equals $14 trillion and the budget surplus is $3 trillion.
the economy has a structural and a cyclical
a. surplus of $3 trillion; surplus of $2 trillion
b. deficit of $1 trillion; surplus of $2 trillion
c. surplus of $4 trillion; deficit of $1 trillion
d. deficit of $1 trillion; surplus of $4 trillion
Answers: 3
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Potential gdp of $12 trillion and if real gdp equaled potential gdp, the budget deficit would be $1...
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