The governments budget surplus in Macroland has risen consistentlyover the past five

Chapter 6, Problem 1

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The governments budget surplus in Macroland has risen consistentlyover the past five years. Two government policy makersdisagree as to why this has happened. One argues that arising budget surplus indicates a growing economy; the otherargues that it shows that the government is using contractionaryfiscal policy. Can you determine which policy maker iscorrect? If not, why not?

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