Explain why $150 billion of tax cuts wont increase the budget deficit by $150 billion. The $
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The $ 150-billion stimulus plan will bump up the deficit, but not necessarily dollar for dollar. Here’s why: If the stimulus works, the increased economic activity will generate federal tax revenue. But it isn’t clear what the cost to the economy will be if a stimulus package comes too late—a real concern since legislation could get bogged down by politics.
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The tax cuts increase real GDP The increase in real GD...View the full answer
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Related Book For
Macroeconomics Canada in the Global Environment
ISBN: 978-0321778109
8th edition
Authors: Michael Parkin, Robin Bade
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