What's the difference between a structural and a passive budget deficit? What contributes to a passive deficit? Use the distinction between passive and structural deficits and surpluses to explain how the $5.9 trillion surplus that economists back in 2000 predicted would occur over 15 years quickly disappeared during the 2001/2002 recession
What's the difference between a structural and a passive budget deficit? What contributes to a passive deficit? Use the distinction between passive and structural deficits and surpluses to explain how the $5.9 trillion surplus that economists back in 2000 predicted would occur over 15 years quickly disappeared during the 2001/2002 recession
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter30: Government Budgets And Fiscal Policy
Section: Chapter Questions
Problem 52P: If a government runs a budget deficit of 10 billion dollars each year for ten years, then a surplus...
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![What's the difference between a structural and a
passive budget deficit? What contributes to a
passive deficit? Use the distinction between
passive and structural deficits and surpluses to
explain how the $5.9 trillion surplus that
economists back in 2000 predicted would occur
over 15 years quickly disappeared during the
2001/2002 recession](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F516f1446-211a-46d9-a124-614103a7f612%2F7d550f9d-6bd1-4a45-bcd5-e8ac133f5e90%2Fn4y7hzf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:What's the difference between a structural and a
passive budget deficit? What contributes to a
passive deficit? Use the distinction between
passive and structural deficits and surpluses to
explain how the $5.9 trillion surplus that
economists back in 2000 predicted would occur
over 15 years quickly disappeared during the
2001/2002 recession
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