Inflation is the:
a. the value of goods and services produced in an economy in a given period of time.
b. is the value of goods and services imported by an economy in a given period of time.
c. general and ongoing rise in the price level of an economy

According to Keynes, once a system attains an economy-wide equilibrium

A) planned investment will be zero. B) there may or may not be excess productive capacity. C) the economy will be at full productive capacity. D) planned consumption will be zero.

Assume that the actual deficit is $150 billion with the economy well below potential output and that the level of economic activity rose to its potential level while tax revenues increased by $50 billion and transfer payments fell by $20 billion

Then, what is the structural deficit? a. $180 billion b. $120 billion c. $220 billion d. $80 billion e. $100 billion