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A governments decision to increase its budget deficit as a proportion of the economys GDP will depend significantly upon whether the economys output gap is
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The remark suggests that the status of the economy especially the output gapthe difference between actual and potential output influences the governments choice to grow its budget deficit When the pro...Get Instant Access to Expert-Tailored Solutions
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Get StartedRecommended Textbook for
Macroeconomics
Authors: Robert J Gordon
12th edition
138014914, 978-0138014919
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