Macroeconomics: Private and Public Choice
15th Edition
ISBN: 9781285453545
Author: Russell Sobel; Richard Stroup; James Gwartney; David Macpherson
Publisher: South-Western College Pub
expand_more
expand_more
format_list_bulleted
Question
Chapter 6, Problem 11CQ
To determine
Explain the concept of shortsightedness effect.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
What is the shortsightedness effect? How does it influencethe attractiveness of government borrowing? Explain.
discuss the budget cycle.discuss why the annual budget is considered as a political act of state?
What are some of the other realistic options for funding the government other than taxation?
Chapter 6 Solutions
Macroeconomics: Private and Public Choice
Knowledge Booster
Similar questions
- During the Great Recession of 20082009, what actions would have been required of Congress and the President had a balanced budget amendment to the Constitution been ratified? What impact would that have had on the unemployment rate?arrow_forwardHow is the concept of 'market failure' relevant to government funding?arrow_forwardExplain how fiscal policy, monetary policy, and economic factors influence public budgeting. In what ways have you personally been impacted by state or local budgeting policies?arrow_forward
- What is the primary goal of fiscal policy? a) Control inflation b) Ensure price stability c) Manage unemployment d) Influence economic activityarrow_forwardWhat will happen to the amount of taxes collected by the government during a recession when there is a progressive income tax system? Explain.arrow_forwardHow important a role does a small business, such as a bakery, play in the overall success of government fiscal policy?arrow_forward
- 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.arrow_forwardYour Finance Minister considers making a tax reform. He asks you, as a senior tax administrator, to advise him on the requirements from a good tax system. What would you advise him?arrow_forwardWhich statement is an argument against a tax system that encourages savings? that individuals know better that the government how much to save that saving is not an important determinant of a nation's ability to produce output that rich people would bear the burden of such a tax system that such a tax system would increase inequalityarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Microeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506893Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506756Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning