If a cyclical surplus exists, the economy must be:
A) at potential income.
B) above potential income.
C) below potential income.
D) experiencing deflation.
Correct Answer:
Verified
Q23: A government can finance its budget deficit
Q24: The budget deficit or surplus is:
A)well defined
Q25: Suppose potential income is $60 billion, actual
Q26: A cyclical deficit is the portion of
Q27: The budget deficit or surplus is:
A)easy to
Q29: During World War II, the economic boom
Q30: If actual income is $300 billion, potential
Q31: If actual income is $300 billion, potential
Q32: If taxes and government expenditures were constant
Q33: When the economy is operating close to
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