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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

Some economists say that the government can continue running a budget deficit forever. How is that possible?

To determine

How government can run with budget deficit forever.

Explanation

Population growth, technological progress, and increasing productivity cause the total income of the economy to grow over time. As a result, the economy's ability to pay the interest on the government debt grows over time...

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