Economics: Principles & Policy
14th Edition
ISBN: 9781337696326
Author: William J. Baumol; Alan S. Blinder; John L. Solow
Publisher: Cengage Learning
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Question
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?
How can a government that isn't running a deficit still get itself into financial trouble?
Chapter 37 Solutions
Economics: Principles & Policy
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- How does the federal government finance a budget deficit? It prints more money. It purchases U.S. Treasury bonds. It cuts spending on entitlement programs. It borrows funds by selling Treasury bonds.arrow_forwardWhat finances the majority of federal spending?arrow_forwardWhat was the budget agenda for President Barack Obama's administration?arrow_forward
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