Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506725
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Question
Chapter 12, Problem 10CQ
To determine
Current and future effects of high debt in the US economy.
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Is rising national debt is harmful to the U.S economy?
Do you agree that the increase in national debt of the country have an effect to the growth of the economy? Justify your answer.
Why might economists be quite concerned if the annual interest payments on the debt sharply increased as a percentage of GDP?
Chapter 12 Solutions
Economics: Private and Public Choice (MindTap Course List)
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- Why might economists be quite concerned if the annual interest payments on the U.S. public debt sharply increased AS A PERCENTAGE OF GDP?arrow_forwardWhat would likely happen to the level of economic activity if the government took the necessary steps to reduce the deficit significantly in a relatively short period of time?arrow_forwardWhen the economy is in a recessionary mode, what will likely be the actions by government using fiscal policy? Is it better to concentrate on aggregate demand or aggregate supply? Why?arrow_forward
- What is the importance of fiscal policy during times of economic recession? What is the reason why fiscal policy should be in tune with monetary policy when the economy is in the recession phase? How important is the Central Bank in the financial market?arrow_forwardDuring difficult economic times, why are uniform across-the-board budget cuts poor fiscal policy?arrow_forwardHow is the Social Security system currently influencing the size of the budget deficit? If it is not re-formed, how will Social Security influence the budget deficit a decade from now? Is this a cause for concern? Why or why not?arrow_forward
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