Economics 1021A/B Study Guide - Final Guide: Real Interest Rate, Government Budget Balance, Tax Wedge
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ECON 1021A/B Full Course Notes
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29. 1 the federal budget: if revenues exceed outlays, the government"s budget balance is ________, and the government has a budget ________, negative; deficit, positive; surplus, positive; deficit, negative; surplus, zero; deficit. Topic: the federal budget: if outlays exceed revenues, the government"s budget balance is ________, and the government has a budget ________, negative; deficit, positive; surplus, positive; deficit, negative; surplus, zero; surplus. Topic: the federal budget: government debt is, equal to revenues minus outlays, always increasing, a phenomena that occurs only during times of war, the total amount of government borrowing, the result of a rising price level. Topic: the federal budget: the category of federal government revenues that fluctuates the most is, investment income, transfer payments, personal income taxes, debt interest, indirect taxes. Chapter 29: fiscal policy: suppose the government starts with a debt of sh. Then in year 1, there is a deficit of billion, in year.