The Data Below Provides the Actual and Structural Budget Deficits,as

question 32

Multiple Choice

The data below provides the Actual and Structural Budget Deficits,as a percentage of real GDP,for Canada between 1999 and 2010.Note that a negative value in the table indicates a budget surplus.
TABLE 31-2
-Refer to Table 31-2.Consider the year 2004.Based on the data in the table we can conclude that

• A)fiscal policy was expansionary in that year.
• B)real output was less than potential in that year.
• C)real output was equal to potential in that year.
• D)real output was greater than potential in that year.
• E)monetary policy was expansionary in that year.

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Definitions:

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