How transfer payments change

Reference no: EM133219302

Question - Suppose that the federal budget is balanced when GDP is at potential GDP. If equilibrium GDP falls below potential, please explain how and why government transfer payments would change; how and why tax receipts would change; how and why the budget would change.

For this assignment you will be assessed on the following criteria:

How transfer payments change.

How tax receipts change.

How the budget changes.

Reference no: EM133219302

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