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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What are some of the arguments for and against a requirement that the federal government budget be balanced every year?

To determine

The arguments in favor and against the requirement of balanced budget every year are to be determined.

Explanation

The balanced budget means to have a balance between deficit and surplus in the economy. This will provide a negative effect on the functioning of the automatic stabilizers.

If the argument is provided to be in favor of balanced budget then it can be said that the government has to control the spending i.e. to reduce the expenditure which means the need of borrowings will be reduced and the interest expenditure on such borrowings will also reduced...

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