In 2016, total tax revenue was $3,268.0 billion and total government outlays was $3,852.6 billion; in 2016 the government's budget was

Select one:

a.

in a deficit.

b.

balanced.

c.

in a surplus.

n 2017, actual GDP was $17.27 trillion and potential GDP was $17.19 trillion. If Congress wanted to bring GDP to full employment, it would engage in

Select one:

a.

expansionary policy.

b.

deficit spending.

c.

boom policy.

d.

contractionary or restrictive policy.