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15. Explain a government budget surplus and budget deficit. If the government has a surplus budget next year what will happen to its debt? What
15. Explain a government budget surplus and budget deficit. If the government has a surplus budget next year what will happen to its debt? What if they have a deficit budget? 16. How does the government borrow money? 17. Explain the equation MV = PQ. How is the money supply related to Gross Domestic Product? 18. What is the target for the overnight rate? How does it influence other interest rates? 19. What effect do changes in the Bank of Canada interest rate have on the Gross Domestic Product? Explain the process
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