MACRO ECON 6
6th Edition
ISBN: 9780357689820
Author: MCEACHERN
Publisher: CENGAGE L
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Chapter 12, Problem 4P
To determine
the reasons for deficit in federal budget in 14 years since 1929.
Concept Introduction:The federal budget is used to finance a variety of federal expenses, which range from paying federal employees, to disbursing agricultural subsidies, to paying for U.S. military equipment. The federal budget is an itemized plan for the annual public expenditures of the United States. A budget deficit occurs when expenses exceed revenue and is an indicator of financial health.
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