chapter 30 quiz

chapter 30 quiz -...

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1.  Annual budget deficits gave way to annual budget surpluses beginning in: A) 1982. B) 1989. C) 1993. D) 1998. 2.      Refer to the above diagram. Assume that G and T 2  are the relevant curves, the economy is  currently at A, and the full-employment GDP is B. This economy has a(n): A) standardized budget surplus. B) actual budget deficit. C) standardized budget deficit. D) actual budget surplus.
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3.      Refer to the above diagram where T is tax revenues and G is government expenditures. All  figures are in billions of dollars. If the full-employment GDP is $400 billion while the actual  GDP is $200 billion, the cyclical deficit is: A) $40 billion. B) $20 billion. C) zero. D) $60 billion. 4.  Which of the following best describes the built-in stabilizers as they function in the United  States? A) The size of the multiplier varies inversely with the level of GDP.
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This note was uploaded on 03/29/2010 for the course ECON 112 taught by Professor Smith during the Spring '10 term at Bowling Green.

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chapter 30 quiz -...

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