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tsk tsk
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A year ago
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
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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jaymasterjaymaster
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A year ago
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tsk Author
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A year ago
Thanks for your help!!
africa143
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Yesterday
Correct Slight Smile TY
sadiewolf
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2 hours ago
Good timing, thanks!
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