16 Nov 2021
Problem 27
Page 740
Section: REVIEW QUESTIONS
Chapter 30: Government Budgets and Fiscal Policy
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16 Nov 2021
Introduction
The U.S. incurred second largest budget deficit on record in the fiscal year 2020-2021, reflecting government expenditure tied to the coronavirus pandemic. The $2.8 trillion deficit was the second largest since 1945 as a share of the nations domestic product. Before the covid-19 pandemic, it was an ominous trend.
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