Assignment help 1409

Refer to the accompanying table for Waxwania:

Instructions:Enter your answers as whole numbers.

a. Waxwania is producing $550 of real GDP, whereas the potential real GDP (or full-employment real GDP) is $650. How large is its budget deficit?

How large is its cyclically adjusted budget deficit?

b. How large is its cyclically adjusted budget deficit as a percentage of potential real GDP?

Instructions:Round your answer to 2 decimal places.

Deficit =percent.

c. Is Waxwania’s fiscal policy expansionary or is it contractionary?

(Click to select)ContractionaryExpansionary

Solution:

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