Economics: Principles and Policy (MindTap Course List)
13th Edition
ISBN: 9781305280595
Author: William J. Baumol, Alan S. Blinder
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 33, Problem 2DQ
To determine
Explain the given comment
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Why do some economists advocate taxing consumption rather than income?
Give two arguments why wealthy taxpayers should pay more taxes than poor taxers?
Pakistan has trade imbalance where our imports are far more than our exports, based on comparative advantage theory suggest ways and means by which we can improve international trade?
Unemployment is a global issue, what steps government had to take to curb it. Suggest by which we can improve employment.
How does fiscal discipline help businesses grow in an economy
Look into the current level of the national debt and the federal deficit in the U.S. Pick any government program and research how much the U.S. spends on it. Does the amount surprise you? What might happen if the budget for the program were increased or reduced? Should the current deficit and debt be cut down? What would be some pros and cons of reducing them?
Chapter 33 Solutions
Economics: Principles and Policy (MindTap Course List)
Knowledge Booster
Similar questions
- Explain and expand on How does fiscal discipline help businesses to grow in an economy?arrow_forwardWhat is considered "too much" debt or "too large" a deficit? Are you able to provide any guidelines for deficit or debt ceilings?arrow_forwardHow does the government spend? How does the government tax? What are the budget deficits?arrow_forward
- When the economy is in recession, government revenue falls due to a falling tax base. Therefore the proper role of government should be to increase taxes and cut spending so as to balance the Federal budget. Do you agree? Why?arrow_forward20 Lilliput is a country that has closed borders and does not import or export any goods or services; hence, they do not worry about trade with other countries. Total spending for the federal government of Lilliput for the last fiscal year was $24.19 billion. The country collected $22.9 billion in taxes during this same fiscal year. Assume government transfers were zero. Based on this information, what is Lilliput's budget balance? Enter your answer to two decimal places. budget balance: $ In the last fiscal year, Lilliput was running a budget surplus a budget deficit a balanced budget billionarrow_forwardWhat are the benefits of tax reform in the Philippines?arrow_forward
- What is the debt trap/ debt diplomacy?arrow_forwardDebt is the same as the deficit. good if it increases productivity more than the debt payment. increased by a budget surplus. bad in all cases.arrow_forwardWhat does it mean when someone says that "High debt usage by corporations drives up the riskiness of our country’s economic base"?arrow_forward
- "Define in a formula, the federal budget deficit." please with explanation !! thank you !arrow_forwardThe federal budget usually shows a surplus. True or False?arrow_forwardWhat is deficit, and why is the government willing to do this? What is expected to happen to the US debt in the future? What categories do we spend the most federal money on? Is the US worse off when it comes to national debt then other countries? Who does the US owe money too? Who owes the US the most amount of money?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Economics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co