Economics: Principles & Policy
Economics: Principles & Policy
14th Edition
ISBN: 9781337696326
Author: William J. Baumol; Alan S. Blinder; John L. Solow
Publisher: Cengage Learning
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Chapter 37, Problem 10DQ
To determine

Budget projections show the debt-to-GDP ratio of the U.S. government topping its World War II high before too long.

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Analyse the action that government can take to assist the economy during a recession
When the economy is in recession, government revenue falls due to a falling tax base. Therefore the proper role of government should be to increase taxes and cut spending so as to balance the Federal budget. Do you agree? Why?
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