In Macroland potential GDP equals $20 billion and real GDP equals $19.2 billion. Macroland has a(n) ________ gap equal to ________ percent of potential GDP.

Unemployment compensation is an example of

A) a subsidized service. B) a regressive income program. C) a Social Security benefit. D) an income maintenance program.

The Budget of the United States Government is officially submitted by: a. the President to Congress and contains spending and revenue proposals for the upcoming fiscal year. b. Congress to the President and contains spending and revenue proposals for the upcoming fiscal year. c. the President to Congress and contains proposals for tax revenues

d. Congress to the President and contains proposals for tax revenues. e. the President to Congress and is reviewed by the Supreme Court.