The Structural Deficit Is the Deficit That Occurs When

question 57

Multiple Choice

The structural deficit is the deficit that occurs when

• A)real GDP departs from potential GDP.
• B)real GDP equals potential GDP.
• C)short- run aggregate supply is greater than aggregate demand.
• D)aggregate demand is greater than short- run aggregate supply.

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Definitions:

Customs Tariff Act

Legislation that sets the tariffs and duties imposed on goods that are imported or exported.

Customs Act

Legislation that governs the importation and exportation of goods in and out of a country.

Wrong Rate

The incorrect or inappropriate pricing rate applied to a service, product, or financial transaction.

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