Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn

تمرين 3

Refer to the table for Waxwania in problem 4Suppose that Waxwania is producing $600 of real GDP, whereas the potential real GDP (or full-employment real GDP) is $700. How large is its budget deficit? Its cyclically adjusted budget deficit? Its cyclically adjusted budget deficit as a percentage of potential real GDP? Is Waxwania 's fiscal policy expansionary or is it contractionary?