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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

What are two situations in which most economists view a budget deficit as justifiable?

To determine

Justifyingbudget deficit.

Explanation

Budget deficit is justifiable in the following cases:

  1. 1. During war time, it is reasonable to finance the extra spending by borrowing. Otherwise, high taxes had to be implemented, which would lead to large deadweight losses.
  2. 2...

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