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24 August, 20:09

Which one of the following statements about the standardized budget is correct?

A. The standardized budget refers to the size of the federal government's budgetary surplus or deficit when the economy is operating at full employment.

B. The standardized budget refers to that portion of a full-employment GDP that isn't consumed in the year it's produced.

C. The standardized budget refers to the number of workers who are underemployed when the level of unemployment is 4 to 5 percent.

D. The standardized budget refers to the inflationary impact that the automatic stabilizers have in a full-employment economy.

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  1. 24 August, 22:07
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    B. The standardized budget refers to that portion of a full-employment GDP that isn't consumed in the year it's produced.
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