First, define and explain the cyclically adjusted deficit. Second, explain what effect a recession caused, for example, by a decrease in consumer confidence will have on the size of the cyclically adjusted deficit.

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The Answer of First, define and explain the cyclically adjusted deficit. Second, explain what effect a recession caused, for example, by a decrease in consumer confidence will have on the size of the cyclically adjusted deficit.

First, Define and Explain the Cyclically Adjusted Deficit