Question
1.Have the spending and taxes of the U.S. federal government generally had an upward or a downward trend in the last few decades? 2.What are
1.Have the spending and taxes of the U.S. federal government generally had an upward or a downward trend in the last few decades?
2.What are the main categories of U.S. federal government spending?
3.What is the difference between a budget deficit, a balanced budget, and a budget surplus?
4.Have spending and taxes by state and local governments in the United States had a generally upward or downward trend in the last few decades?
6.What are the main categories of U.S. federal government taxes?
7.What is the difference between a progressive tax, a proportional tax, and a regressive tax?
8.What has been the general pattern of U.S. budget deficits in recent decades?
9.What is the difference between a budget deficit and the national debt?
10.What is the difference between expansionary fiscal policy and contractionary fiscal policy?.
11.Under what general macroeconomic circumstances might a government use expansionary fiscal policy? When might it use contractionary fiscal policy?
12. What is the difference between discretionary fiscal policy and automatic stabilizers
13.Why is automatic stabilizers function "automatically?"
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