A Cyclical Surplus Is a

question 143

Multiple Choice

A cyclical surplus is a

• A) budget surplus only because real GDP is less than potential GDP.
• B) budget surplus only because real GDP is greater than potential GDP.
• C) budget surplus only because real GDP is equal to potential GDP.
• D) nominal, as opposed to real, budget surplus.

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Definitions:

Collective Violence

Violence committed by groups of individuals or states, including acts of war, genocide, and riots, often motivated by social, political, or economic objectives.

Political Parties

Are organizations that compete for control of government in regular elections. In the process, they give voice to policy alternatives and rally adult citizens to vote.

Unions

are organized associations of workers formed to protect and further their rights and interests, often through collective bargaining.

Strikes

Work stoppages initiated by employees to protest against their employers' practices or to demand better working conditions and pay.