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a. The government's budget constraint shows that total government expenditures must be equal to the sum of and b. The government's annual budget deficit is the excess of total revenue over total spending in a given year.

a. The government's budget constraint shows that total government expenditures must be equal to the sum of and b. The government's annual budget deficit is the excess of total revenue over total spending in a given year.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Please  solve all A to D.......will upvote your work

a. The government's budget constraint shows that total government expenditures must be equal to the sum of and b. The government's annual budget deficit is the excess of total revenue over total spending in a given year. c. If we want to know how much of a government's budget deficit is attributable to current program spending and tax policies, we compute the deficit. This measure tells us the difference between the government's overall budget deficit and its payments. d. If the government's total budget deficit is $20 billion and its debt-service payments are $18 billion, then its is $2 billion. If the total budget deficit is $20 billion and its debt-service payments are $26 billion, then its is $6 billion.
Transcribed Image Text:a. The government's budget constraint shows that total government expenditures must be equal to the sum of and b. The government's annual budget deficit is the excess of total revenue over total spending in a given year. c. If we want to know how much of a government's budget deficit is attributable to current program spending and tax policies, we compute the deficit. This measure tells us the difference between the government's overall budget deficit and its payments. d. If the government's total budget deficit is $20 billion and its debt-service payments are $18 billion, then its is $2 billion. If the total budget deficit is $20 billion and its debt-service payments are $26 billion, then its is $6 billion.
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