(15) The deficit is

a)the amount by which government purchases and transfers exceed tax revenues.

b)total tax revenues minus net interest minus government expenditures.

c)the amount by which government purchases, transfers, and net interest exceed tax revenues.

d)the primary deficit minus net interest payments.

(16) Significant problems with measuring real GDP and the price level include

a)changes in standards of living.

b)changes in relative price levels.

c)purchases of used goods.

d)changes in the number of consumers.