Which of the following budget philosophies advocates keeping the budget in balance every year, except during wartime? a)Annually balanced budget   b)Cyclically balanced budget   c)Functional finance     A major problem with the implementation of this philosophy is that it: a)Magnifies business cycle fluctuations   b)Can allow the national debt to burgeon with chronic deficits   c)Relies upon government officials to budget for surpluses during boom times in order to cover deficits during recessions

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