7. How is national debt different than budget deficit?They are not different; they are different...

7. How is national debt different than budget deficit?

They are not different; they are different ways of saying the same thing.

National debt refers to the amount of money a government has borrowed in relation to GDP while a budget deficit refers to the money a government owes after receiving tax revenue

National debt is the amount a government has borrowed in a year while a budget deficit is how much a government has over time.

National debt is the amount a government has borrowed over time while a budget deficit is how much a government has borrowed in one year.

8. The M1 money supply includes which of the following?

demand deposits

currency in circulation

travelers checks

all of the above

Solutions

Expert Solution

National debt refers to the amount of money a government has borrowed in relation to GDP while a budget deficit refers to the money a government owes after receiving tax revenue

because debt relates to borrowing whole deficit is all above expenses above the true income

all of the above

because all these define the most liquid form of money

Rahul Sunny answered 2 years ago

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