The real deficit is the nominal deficit adjusted for inflation's effect on existing debt.
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Q5: In the short-run framework, budget deficits should:
A)never
Q6: Over the past five years, most countries'
Q7: A budget deficit is defined as:
A)a shortfall
Q8: Deficits may be desirable in the short
Q9: A budget surplus is defined as:
A)a shortfall
Q11: The portion of the budget deficit or
Q12: Economists believe that an increase in equilibrium
Q13: In the long-run framework, budget surpluses:
A)should be
Q14: In the long-run framework, deficits reduce:
A)investment.
B)government consumption.
C)taxes.
D)subsidies.
Q15: A country that is running a budget
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