ECON MACRO
5th Edition
ISBN: 9781337000529
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 12, Problem 1.2P
To determine
Budgets requirement of forecast of the economy and circumstances of failure to match the actual government spending and tax revenue with the approved budget.
Concept Introduction: Budget
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why does the budget require a forecast of the economy? under what circumstances would actual government spending and tax revenue fail to match the budget as approved?
Why does the budget require a forecast of the economy? Under what circumstances would actual government spending and tax revenue fall to match the budget as approved?
Why does the budget require a forecast of the economy? Under what circumstances would actual government spending and tax revenue fail to match the budget as approved?
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- An economist who believes the economy is self-regulating is more likely to advocate laissez-faire than an economist who believes the economy is inherently unstable. Do you agree or disagree, explain your answer using appropriate diagrams.arrow_forwardHow an economist thinks that the economy works—is it self-regulating or not?—influences his opinion of the role government should play in trying to stabilize the economy. Do you agree or disagree? Explain your answer.arrow_forwardWhat policy might the federal government implement with regard to taxes and spending to help stop the economy from falling into recession?arrow_forward
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