Fact: America's national debt stands at $17 trillion. That's a tough number to grasp. Most people will never come close to making $1 million in any given year. How can we understand the magnitude of the hole our country is in? Well, imagine you owed your credit card company $200,000.How much is the current debt?What is the impact of total government spending during the pandemic on current debt? Is government spending on the pandemic fiscal or monetary policy?Give 2 reasons why you think government spending for the pandemic is fiscal or monetary policy. At least one paragraph and cite any sources in APA format.

Debt is defined as an amount of money borrowed from another party with the agreement to repay the…

Answered: Fact: America's national debt stands at…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter18: Debates In Macroeconomics Over The Role And Effects Of Government

Section18.10: Demand-side And Supply Side Views Of The Economy And Government Tools For The Changing Real Gdp

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Fact: America's national debt stands at $17 trillion. That's a tough number to grasp. Most people will never come close to making $1 million in any given year. How can we understand the magnitude of the hole our country is in? Well, imagine you owed your credit card company $200,000.

How much is the current debt?What is the impact of total government spending during the pandemic on current debt? Is government spending on the pandemic fiscal or monetary policy?
Give 2 reasons why you think government spending for the pandemic is fiscal or monetary policy.

At least one paragraph and cite any sources in APA format.

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