The structural deficit or surplus
a. shows the government where to make cuts in expenditures to follow the balanced budget requirement.
b. reveals the complicated structure underlying government spending and tax policy.
c. is the hypothetical deficit or surplus under current fiscal policies if the economy were operating near full employment.
d. includes all government budgets-federal, state, and local.
c
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Splitting up a natural monopoly into two or more smaller firms would not only lower the average cost of production but also reduce price
a. True b. False Indicate whether the statement is true or false
If a country's income is rapidly increasing it must:
A. have a high level of growth. B. be well-endowed with natural resources. C. have a lot of room to expand. D. have a high level of income.