If a government budget runs a deficit, then the tax cut will increase the equilibrium level of GDP; however, if the budget runs a surplus, then the tax cut will decrease the equilibrium level of GDP

Economics Dec 15, 2020

If a government budget runs a deficit, then the tax cut will increase the equilibrium level of GDP; however, if the budget runs a surplus, then the tax cut will decrease the equilibrium level of GDP. 5. A car insurance is traded in the goods-and-services market. 6. The current profit shares of leading tobacco companies in the world is a major concern of macroeconomics.

Expert Solution

4- True when there is deficit then the equilibrium level of gdp will increase and in surplus it will decrease .

5- True A car insurance is traded in the goods and services market as it sells services to their customers .

6-True as it is majorly consumed by all countries .

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