If the economy's full-employment output is $5 trillion, actual output is $5 trillion, and the budget deficit is $13 billion, the deficit in this case is known as a O A) Full employment deficit. O B) Cyclical deficit. O C) Structural deficit.

If the economy's full-employment output is $5 trillion, actual output is $5 trillion, and the budget deficit is $13 billion, the deficit in this case is known as a O A) Full employment deficit. O B) Cyclical deficit. O C) Structural deficit.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter30: Government Budgets And Fiscal Policy

Section: Chapter Questions

Problem 12SCQ: In a recession, does the actual budget surplus or deficit fall above or below the standardized...

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Question

If the economy's full-employment output is $5 trillion, actual
output is $5 trillion, and the budget deficit is $13 billion, the deficit
in this case is known as a
O A) Full employment deficit.
O B) Cyclical deficit.
O
C) Structural deficit.

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