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Refer to the Diagram, in Which T Is Tax Revenues

Question 184

Multiple Choice

Refer to the diagram, in which T is tax revenues and G is government expenditures. All figures are in billions. If GDP is $400, A) there will be a budget deficit. B) there will be a budget surplus. C) the budget will be balanced. D) the macroeconomy will necessarily be in equilibrium. Refer to the diagram, in which T is tax revenues and G is government expenditures. All figures are in billions. If GDP is $400,


A) there will be a budget deficit.
B) there will be a budget surplus.
C) the budget will be balanced.
D) the macroeconomy will necessarily be in equilibrium.

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