Answer:
B. the economy were at potential GDP.
A cyclically adjusted deficit is a budget deficit caused by a slowing economy rather than fiscal policies such as increasing discretionary spending or decreasing the tax rates.
Explanation:
The cyclically adjusted budget deficit or surplus is the deficit or surplus in the federal government budget if the economy were at potential GDP. The federal budget deficit is the year-to-year shortfall in tax revenues relative to government spending (T < G+TR), financed through government bonds.
A budget deficit implies lower taxes and increased Government spending (G), this will increase AD and this may cause higher real GDP and inflation. For example, in 2009, the UK lowered VAT in an effort to boost consumer spending, hit by the great recession.
Answer:
The correct answer is letter "C": Cornucopians.
Explanation:
Cornucopians are environmentalists who consider that is possible to overcome environmental problems with technical approaches. They have anthropocentric positions because interest in humans is what guides their criteria on the relationship between society and its environment. Cornucopians believe mankind's role in the world is to conquer nature to produce.
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Answer:
Equilibrium quantity will increase; the effect on price is ambiguous.
Explanation:
An add in the newspaper claims that the price of milk will increase next week . At the same time, a new and improved pasteurization process makes milk production more efficient. Given these two effects, we can say about the current equilibrium price and quantity of milk that Equilibrium quantity will increase; the effect on price is ambiguous.
The conclusion that equilibrium quantity will increase is dependent on the fact that expectation on future prices is a major factor that leads to changes in demand
People’s expectations about the future can have a significant impact on demand. Or, more specifically, their expectations of future prices can change demand.
If consumers expect prices to increase shortly, current demand often increases, i.e., the demand curve shifts to the right.
