100T.80G6040O $ 100 200 300 400 500 600 700 800 900GDPRefer to the diagram, in which Tis tax revenues and Gis government expenditures Al figures are in billons of doltars if the ful-employment ODP400billion while the actual GDP is $200 billion: (Show your calcutations)a. What is the actual budget deficit?b. What is the cyclically adjusted budget deficit?c. The value of cyclically adjusted deficit identifies which type of discretionary fiscal policy?20G T.G ($)

Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

100 T. 80 60 40 20 O $ 100 200 300 400 500 600 700 800 900 GDP Refer to the diagram, in which T is tax revenues and Gis government expenditures Al tigures are in billions of dotars the temployment ODP S00 billion while the actual GDP is $200 bilion: (Show your calculations) a. What is the actual budget deficit? b. What is the cyclically adjusted budget deficit? c. The value of cyclically adjusted deficit identifies which type of discretionary fiscal policy? G T.G ($)