When federal government spending exceeds tax revenues, the federal government runs a budget surplus

In facilitating the transition from a centrally planned to a market-oriented economy, explain the difference between the "shock therapy" versus "gradualism" approach

What will be an ideal response?

Economic stagnation coupled with high inflation is commonly called:

A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.