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Potential GDP is $12 trillion. If real GDP equaled potential GDP, the budget deficit would be $1 trillion. Real GDP actually equals $14 trillion, and the budget surplus is $3 trillion.

The economy has a structural ______ and a cyclical ______.

A. surplus of $3 trillion; surplus of $2 trillion
B. deficit of $1 trillion; surplus of $2 trillion
C. deficit of $1 trillion; surplus of $4 trillion
D. surplus of $4 trillion; deficit of $1 trillion

Answer :

Answer:

C. Deficit of​ $1 trillion; Surplus of​ $4 trillion.

Explanation:

Structural Deficit = $1 trillion

Cyclical Surplus = $4 trillion

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