The period of growth in real GDP between the trough of the business cycle and the next peak is called the

Suppose that for the nation of Calliope, the debt-to-GDP ratio is 325%, the average annual growth rate is 1.1%, the average inflation rate is 0.5%, and the average nominal interest rate is 2.2%

Based on this information, determine if fiscal policy is sustainable in Calliope, and if not, what the primary budget deficit would have to be to make fiscal policy sustainable.

Behavioral economics extends traditional economic models by

A) including insights from psychology and human cognition models. B) modeling behavior rather than prices. C) admitting that individuals are irrational. D) admitting that incentives are very important.