Biology Forums - Study Force

Other Fields Homework Help Economics Topic started by: tsk on Nov 10, 2022



Title: Surpluses, Deficits and Calculation the Budget BalanceSuppose the federal budget deficit for the ...
Post by: tsk on Nov 10, 2022
Surpluses, Deficits and Calculation the Budget Balance

Suppose the federal budget deficit for the year was $120 billion and the economy was in a recession. If the economy had been at potential GDP, it is estimated that tax revenues would have been $70 billion higher and government spending on transfer payments would have been $90 billion lower. Based on these estimates, the cyclically adjusted budget ________.

▸ deficit was $140 billion

▸ surplus was $40 billion

▸ surplus was $160 billion

▸ deficit was $20 billion


Title: Surpluses, Deficits and Calculation the Budget BalanceSuppose the federal budget deficit for the ...
Post by: jaymaster on Nov 10, 2022
Content hidden