Question: #1611

ECO372 Week 4 Learning Team Reflection

Week 4 Team D Reflection

During this week we learned about deficits and surpluses. Deficits are when a country has a shortfall of revenues under payments (Colander, 2010, p. 406). This means that the government has a shortage of money which will cause interest rates to increase. A deficit will also cause some incomes to be lower and tax revenues will decrease. A surplus is when a country has an excess of revenues over payments (Colander, 2010, p. 406). In addition, we learned about structural and passive deficits and surpluses, nominal and real deficits and surpluses, and how the government makes policy to determine whether the country will run a deficit or surplus.???

 

Solution: #1596

ECO372 Week 4 Learning Team Reflection

Week 4 Team D Reflection During this week we learned about deficits and surpluses. Deficits are when a country has a shortfall of revenues under payments (Colander, 201...

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