A. that in a full-employment economy, the federal budget should be in balance.
B. that tax revenues should vary inversely with GDP.
C. what the size of the federal budget deficit or surplus would be if the economy was at full
employment.
D. the actual budget deficit or surplus realized in any given year.
B. that tax revenues should vary inversely with GDP.
C. what the size of the federal budget deficit or surplus would be if the economy was at full
employment.
D. the actual budget deficit or surplus realized in any given year.
FOORQUIZ ANSWER:
C. what the size of the federal budget deficit or surplus would be if the economy was at full
employment.
employment.