Next question The table shows the tax revenues and the outlays of a nation at each level of real GDP. Real GDP Tax revenues Outlays What is the budget deficit when real GDP is $4 trillion? (trillions of dollars) >>> When you are asked to report a deficit, it is reported as a positive number. If you are asked to report the budget balance, and that balance is a deficit, then it is reported as a negative number. 3 0.1 0.5 4 0.2 0.4 0.3 0.3 When real GDP is $4 trillion, the budget deficit is $ trillion. 0.4 0.2 0.5 0.1 >> Answer to 1 decimal place.

Next question The table shows the tax revenues and the outlays of a nation at each level of real GDP. Real GDP Tax revenues Outlays What is the budget deficit when real GDP is $4 trillion? (trillions of dollars) >>> When you are asked to report a deficit, it is reported as a positive number. If you are asked to report the budget balance, and that balance is a deficit, then it is reported as a negative number. 3 0.1 0.5 4 0.2 0.4 0.3 0.3 When real GDP is $4 trillion, the budget deficit is $ trillion. 0.4 0.2 0.5 0.1 >> Answer to 1 decimal place.

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter11: Managing Aggregate Demand: Fiscal Policy

Section11.B: Algebraic Treatment Of Taxes And Fiscal Policy

Problem 3TY

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