9. Figure 15-9 shows the actual budget deficit and the cyclically adjusted budget deficit as a percentage
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9. Figure 15-9 shows the actual budget deficit and the cyclically adjusted budget deficit as a percentage of GDP in the United States since 1970. Assuming that potential output was unchanged, use this figure to determine in which years since 1990 the government used expansionary fiscal policy and in which years it used contractionary fiscal policy?
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Related Book For
Essentials Of Economics
ISBN: 9781429218290
2nd Edition
Authors: Paul Krugman, Robin Wells, Kathryn Graddy
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