Business, 19.12.2019 04:31 edog7755

Potential gdp of $12 trillion and if real gdp equaled potential gdp, the budget deficit would be $1 trillion.

real gdp actually equals $14 trillion and the budget surplus is $3 trillion.

the economy has a structural and a cyclical

a. surplus of $3 trillion; surplus of $2 trillion

b. deficit of $1 trillion; surplus of $2 trillion

c. surplus of $4 trillion; deficit of $1 trillion

d. deficit of $1 trillion; surplus of $4 trillion

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Potential gdp of $12 trillion and if real gdp equaled potential gdp, the budget deficit would be $1...