Question: The government budget went from a surplus in 2001 to a very large deficit in 2010. Discuss the events that caused this change and whether

The government budget went from a surplus in 2001 to a very large deficit in 2010. Discuss the events that caused this change and whether the particular event affected primarily the cyclical deficit or the natural employment deficit. Explain how the change from a government surplus to a large government deficit affected the ratio of net public debt-to-GDP.

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