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Business, 21.12.2019 04:31 edjiejwi

Instructions: in part a, enter your answers as whole numbers. in part b, round your answer to 2 decimal places. a. waxwania is producing $650 of real gdp, whereas the potential real gdp (or full-employment real gdp) is $750 . 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? deficit =c. is waxwania’s fiscal policy expansionary or is it contractionary?

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