Answer Bank when the government receives more in taxes than it spends in a given time period when government spending and taxes are equal when the federal government spends more than it collects in taxes in a given time period the total accumulated amount that the government has borrowed and not yet paid back over time
Answer Bank when the government receives more in taxes than it spends in a given time period when government spending and taxes are equal when the federal government spends more than it collects in taxes in a given time period the total accumulated amount that the government has borrowed and not yet paid back over time
Chapter17: Federal Deficits, Surpluses, And The National Debt
Section17.3: Why Worry Over The National Debt?
Problem 2YTE
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Please match each description with the appropriate approach to federal finance.
Policymakers should reduce spending and increase taxes when the economy is growing
in order to prevent "overheating".
This approach was considered conventional wisdom until the advent of the
Great Depression.
Policymakers should focus on keepingunemployment low and providing the people
with the public goods and services they want.
If insisted upon, this approach would only worsen the economy during a recession.
This approach ignores the impact of the budget on the business cycle.
in order to prevent "overheating".
This approach was considered conventional wisdom until the advent of the
Great Depression.
Policymakers should focus on keeping
with the public goods and services they want.
If insisted upon, this approach would only worsen the economy during a recession.
This approach ignores the impact of the budget on the business cycle.
Answer bank in image
Transcribed Image Text:Answer Bank
when the government receives more in taxes than it spends in a given time period
when government spending and taxes are equal
when the federal government spends more than it collects in taxes in a given time period
the total accumulated amount that the government has borrowed and not yet paid back over time
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