A) What is the cyclical deficit, and when is it appropriate to
have such a deficit? Why?
B) How do automatic stabilizers, on both the expenditure and
revenue sides of the budget, respond during a recession?
C) Use the table below to answer the following questions. The
federal deficit fell from $1,300 billion in 2011 to $680 billion in
2013. How much of this change was due to the growing economy? How
much of this change was the result of...