Do you think it is correct policy that the federal government is not required to finance all of its expenditures with tax revenues and is allowed to borrow? What are the implications of this policy?
What will be an ideal response?
Answers will vary, but financing out of current spending ensures that there are no deficits at
the end of the fiscal year. However, in times of crisis, such as war, this type of financing would limit the government's ability to accomplish its stated goals.
Economics
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Why can a monopoly make a positive economic profit even in the long run?
What will be an ideal response?
Economics
What determines the position and shape of a society’s production possibilities frontier?
A. The physical resources of that society B. The skills of the workforce C. The level of technology of the society D. The amount of factories in the society E. All of the responses are correct.
Economics