Each question answer minimum word 100. So total of 300 words. Thank you! 1. Explain when...

Each question answer minimum word 100. So total of 300 words. Thank you!

1. Explain when each of the following would occur:

-Budget deficit and surplus, and a balanced budget

-Cyclical and Structural deficit

2. Describe the Fed's eight major functions.

3. Describe what happened during the financial crisis of 2007-2009? Include at least three points to explain. Is the current economic condition due to COVID19 similar to this recession? What changes do you see and what is your expectation on recovery?

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Expert Solution

Rahul Sunny answered 1 year ago

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