Macroeconomics: Private and Public Choice
15th Edition
ISBN: 9781285453545
Author: Russell Sobel; Richard Stroup; James Gwartney; David Macpherson
Publisher: South-Western College Pub
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Chapter ST1, Problem 2CQ
To determine
The effects of a shift in the composition of the federal budget on the standards of living.
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During the past five decades, there has been a shift in the composition of the federal budget toward more spending on income transfers and health care and a smaller share for national defense. Does economics indicate that this change will help Americans achieve higher living standards?
Which system of taxes is best? Why does that system is the most effective way for the government to generate revenue and maintain our economy's growth?
Describe three ways a government policy maker can try to raise the growth in living standards in a society. Are there drawbacks to these policies?
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Macroeconomics: Private and Public Choice
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