The Diagram Below Shows the Budget Deficit Function for a Government

question 21

Multiple Choice

The diagram below shows the budget deficit function for a government in a hypothetical economy. FIGURE 31-1
-Refer to Figure 31-1.Initially,suppose real GDP is $100 million and the budget deficit is $4 million,as shown by point A.If the government implements an expansionary fiscal policy by increasing its purchases of goods and services,then

• A)the budget deficit function would shift down.
• B)the budget deficit function would become steeper.
• C)the budget deficit function would become flatter.
• D)the budget deficit function would shift up.
• E)the size of the budget deficit would decrease as we move from point A to point B.

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Definitions:

Existential Import

The implication that some individuals fitting the criteria exist when making a particular proposition.

Existential Import

The implied existence of at least one instance of the subject in categorical propositions, affecting the truth of the proposition.

Traditional View

A perspective that is based on long-established beliefs or practices, often contrasted with more modern or progressive approaches.

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Informal sales events typically held at someone's home or property where used goods are sold to the public.