Solved

Refer to the Above Diagram Wherein T Is Tax Revenues

Question 116

Multiple Choice

  Refer to the above diagram wherein T is tax revenues and G is government expenditures.All figures are in billions.If GDP is $400: A) there will be a budget deficit. B) there will be a budget surplus. C) the budget will be balanced. D) the macroeconomy will be in equilibrium. Refer to the above diagram wherein T is tax revenues and G is government expenditures.All figures are in billions.If GDP is $400:


A) there will be a budget deficit.
B) there will be a budget surplus.
C) the budget will be balanced.
D) the macroeconomy will be in equilibrium.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents