If Real GDP Equals B in the Figure Below, Then

question 93

Multiple Choice

If real GDP equals B in the figure below, then

• A)None of these
• B)there is a structural surplus.
• C)there is a structural deficit.
• D)the difference between government expenditures and tax revenue is equal to zero.
• E)real GDP equals potential GDP.

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Definitions:

Merchandise Inventory Account

An account in the general ledger that tracks the cost of goods intended for sale during an accounting period.

Worksheet

A document or tool used by accountants for preparing financial statements and supporting calculations.

Sales

Sales refer to the total revenue earned by a business from selling goods or services.

Worksheet

A spreadsheet used for preparing financial statements and reconciling accounts.