Business, 21.12.2019 02:31 jonathanvega424

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?

instructions: you may select more than one answer. click the box with a check mark for correct answers and click to empty the box for the wrong answers.

a. the government has a cyclically adjusted budget deficit of $555 billion. unanswered
b. the government has a cyclically adjusted budget surplus of $5 billion. unanswered
c. the government has a non-cyclically adjusted budget deficit of $90 billion. unanswered
d. the government has a non-cyclically adjusted budget surplus of $90 billion. unanswered
e. the government has a non-cyclically adjusted budget deficit of $595 billion. unanswered
e. the government has a cyclically adjusted budget deficit of $5 billion.

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