Why economy were operating at employment govt expenditure

Reference no: EM13214083

Suppose that government expenditures are currently $700 billion and tax revenues are currently $550 billion. Assume further that the government estimates that if the economy were operating at full employment government expenditures would only be $685 billion and tax revenues would be $600 billion. In this case, the total budget deficit is _____________ billion

Reference no: EM13214083

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