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a federal budget deficit
the govt spends more than they have
there is a recession
Raises the equilibrium level of output and employment.
The federal government purchases exceed net taxes.
a federal budget deficit
There is a federal budget deficit.
deficit. -source: e2020
The United States federal government has had a budget deficit since World War 1. Historically, any war that the United States is involved in leaves a big deficit.
the govt spends more than they have
there is a recession
Raises the equilibrium level of output and employment.
The federal government purchases exceed net taxes.
Subtracting government tax revenue plus government borrowing from government spending in a particular year.
calculating a budget deficit
calculating a budget deficit
Describe the relationship between demand-side economics and the federal budget deficit.