Last year, while an economy was in a recession, government spending was $595 billion and government revenue was $505 billion. economists estimate that if the economy had been at its full-employment level of gdp last year, government spending would have been $555 billion and government revenue would have been $550 billion. which of the following statements about this government’s fiscal situation are true? lo3 a. the government has a non–cyclically adjusted budget deficit of $595 billion. b. the government has a non–cyclically adjusted budget deficit of $90 billion. c. the government has a non–cyclically adjusted budget surplus of $90 billion. d. the government has a cyclically adjusted budget deficit of $555 billion. e. the government has a cyclically adjusted budget deficit of $5 billion. f. the government has a cyclically adjusted budget surplus of $5 billion

The correct answer is option b and option e.

Explanation:

In recession, the government spending was $595 billion and government revenue was $505 billion.

In recession the budget was in deficit as the spending was greater than revenue.

Budget deficit

= $595 billion - $505 billion

= $90 billion

At full employment the government spending was $555 billion and the government revenue was $550 billion.

Budget deficit

= $555 billion - $550 billion

= $5 billion

So, the government has a non–cyclically adjusted budget deficit of $90 billion and a cyclically adjusted budget deficit of $5 billion.

explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.

answer: kevoto

explanation: be healthy