Structural deficit (surplus)
What will be an ideal response?
the portion of the deficit (or
surplus) that results from tax and spending policy dictated
by the president and Congress at their
discretion
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The discussion of Figure 2.2 in the text indicates that quantity demanded for most goods tends to increase as income rises. However, the quantity of bananas demanded in the U.S. tends to decrease as income rises
Under this condition, we expect that an increase in consumer income shifts the demand curve for bananas: A) rightward B) no shift. C) leftward. D) upward.
In markets, prices move toward equilibrium because of
a. the actions of buyers and sellers b. government regulations placed on market participants. c. increased competition among sellers. d. buyers' ability to affect market outcomes.