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In part a , enter your answers as whole numbers. In part b , round your answer to 2 decimal places. a. Waxwania is producing

In part a, enter your answers as whole numbers. In part b, round your answer to 2 decimal places.

a. Waxwania is producing $600 of real GDP, whereas the potential real GDP (or full-employment real GDP) is $700. How large is its budget deficit?

How large is its cyclically adjusted budget deficit?

b. How large is its cyclically adjusted budget deficit as a percentage of potential real GDP?

c. Is Waxwanias fiscal policy expansionary or is it contractionary?

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