During World War II, the economic boom that raised U.S. equilibrium income above potential income:
Choose one answer.
a. increased the structural deficit.
b. eliminated any structural deficit.
c. increased the passive deficit.
d. eliminated any passive deficit
Economists generally are:
a. more concerned about structural deficits than passive deficits.
b. equally concerned about structural and passive deficits.
c. more concerned about passive deficits than structural deficits.
d. not concerned about structural or passive deficits.
The real deficit depends on the:
a. level of government expenditures and receipts only.
b. rate of inflation only.
c. nominal deficit, the rate of inflation, and the government debt.
d. rate of interest only.