Actual Budget, Percent of Cyclically-Adjusted Budget, Percent GDP (-deficits, +surpluses) Year 1998 e 1999 -3 2000 -5 2001 2002 -2 +2 of GDP (-deficits, +surpluses) 0 0 -2 -2 +1 Refer to the data for a fictional economy. The changes in the budget conditions between 1998 and 1999 best reflect O demand-pull inflation. O an expansionary fiscal policy. O a recession. O a contractionary fiscal policy.

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Chapter1: Making Economics Decisions
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Actual Budget, Percent of Cyclically-Adjusted Budget, Percent
GDP
(-deficits, +surpluses)
Year
1998
e
1999
-3
2000
-5
2001
-2
2002
+2
of GDP
(-deficits, +surpluses)
0
0
-2
-2
+1
Refer to the data for a fictional economy. The changes in the budget conditions between 1998 and 1999 best reflect
O demand-pull inflation.
O an expansionary fiscal policy.
O a recession.
O a contractionary fiscal policy.
Transcribed Image Text:Actual Budget, Percent of Cyclically-Adjusted Budget, Percent GDP (-deficits, +surpluses) Year 1998 e 1999 -3 2000 -5 2001 -2 2002 +2 of GDP (-deficits, +surpluses) 0 0 -2 -2 +1 Refer to the data for a fictional economy. The changes in the budget conditions between 1998 and 1999 best reflect O demand-pull inflation. O an expansionary fiscal policy. O a recession. O a contractionary fiscal policy.
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