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7 October, 23:19

A. waxwania is producing $600 of real gdp, whereas the potential real gdp (or full-employment real gdp) is $700. how large is its budget deficit?

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  1. 8 October, 02:50
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    If you refer to the chart for this question in your textbook or found online in your assignment there is a difference of $40. The $40 difference is the budget deficit for Waxwania. A budget deficit, simply put, is when expenses exceed the revenue. The amount of budget deficit a company faces often indicates the financial well being of the company.
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