Econ 2301 msidorya exam - Study guides, Class notes & Summaries

Which of the following is true when a budget deficit exists?` - ANSWER Government expenditures exceed tax revenues If the public debt increased by the same amount each year during the past three years, then - ANSWER the U.S. Treasury must have issued securities to fund a flow of government spending that exceeded a flow of tax revenues by the same amount during each of the past three years. Suppose that the federal government had a budget deficit of $60 billion in year 1 and $70 billion in ...

econ 2301 msidorya Exam | Questions with 100% Solutions/Verified Answers