=+fully fund the war effort; to make up this difference, the colonies decided to print more money.

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Printing money to cover expenditures is sometimes referred to as an “inflation tax.” Who do

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Brief Principles Of Macroeconomics

ISBN: 9780324590371

5th Edition

Authors: N. Gregory Mankiw

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Question Posted: Sep 26, 2024 10:01 AM

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During the Revolutionary War, the American colonies could not raise enough tax revenue to fully fund the war effort; to make up this difference, the colonies decided to print more money. Printing...
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=+15. During the Revolutionary War, the American colonies could not raise enough tax revenue to
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=+fully fund the war effort; to make up this difference, the colonies decided to print more money.

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Brief Principles Of Macroeconomics

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