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Economics For Today

10th Edition
Tucker
Publisher: Cengage Learning
ISBN: 9781337613040

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Economics For Today

10th Edition
Tucker
Publisher: Cengage Learning
ISBN: 9781337613040
Chapter 23, Problem 1SQP
Textbook Problem
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Explain the relationship between budget deficits and the national debt.

To determine

The relationship between budget deficits and national debt.

Explanation of Solution

The sum of federal budget deficits in the past is known as the national debt. When there is a large budget deficit, it implies that the rate of increase in national debt is high. When the budget deficit is small, it implies that the rate of increase in national debt is low.

Economics Concept Introduction

Budget deficit: Budget deficit is a situation in which the expenditure of the government exceeds the revenue of the government.

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