Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer correct explain plz asap plz Don't answer by pen paper Loss of economic activity led to increased government boosting of the economy. This

Please answer correct explain plz asap plz

Don't answer by pen paper

image text in transcribed
Loss of economic activity led to increased government boosting of the economy. This led us to have staggering deficits and public debt. A Deficits is a shortfall of revenue under payments and a surplus is an excess of revenue over payments. Both ofthese measures are flows meaning that they refer to revenues and pay nets over a said period of time usually a year. By law state and local governments are required to balance their budgets but the Federal Government is allowed to spend more or less than its revenue. There were bills passed in the congress mandating to balance the Federal Budget by a certain year but as the date approaches the congress scrapped those bills and continue to run a deficit. What were those bills, and why they were passes and why they were nullified

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Economics And Policy

Authors: Thomas H Tietenberg

5th Edition

0321348907, 9780321348906

More Books

Students also viewed these Economics questions

Question

f. What subspecialties and specializations does the person list?

Answered: 1 week ago

Question

Context, i.e. the context of the information presented and received

Answered: 1 week ago