Business, 16.07.2021 02:30 laurentsofia09

Instructions: In part a, enter your answers as whole numbers. In part b, round your answer to 2 decimal places. a. Waxwania is producing $550 of real GDP, whereas the potential real GDP (or full-employment real GDP) is $650 . How large is its budget deficit?

How large is its cyclically adjusted budget deficit?

b. How large is its cyclically adjusted budget deficit as a percentage of potential real GDP?
Deficit = ___

c. Is Waxwania’s fiscal policy expansionary or is it contractionary?

Instructions: In part a, enter your answers as whole numbers. In part b, round your answer to 2 dec

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Instructions: In part a, enter your answers as whole numbers. In part b, round your answer to 2 deci...

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