The Data Below Provides the Actual and Structural Budget Deficits,as

Multiple Choice

The data below provides the Actual and Structural Budget Deficits,as a percentage of real GDP,for Canada between 1999 and 2010.Note that a negative value in the table indicates a budget surplus. TABLE 31-2 Refer to Table 31-2.Consider the year 2004.Based on the data in the table we can conclude that

A) fiscal policy was expansionary in that year.
B) real output was less than potential in that year.
C) real output was equal to potential in that year.
D) real output was greater than potential in that year.
E) monetary policy was expansionary in that year.