Fill in the blanks to make the following statements correct. a. The government's budget constraint shows that
Question:
Fill in the blanks to make the following statements correct.
a. The government's budget constraint shows that government expenditures must be equal to the sum of ________ and ___________.
b. The government's annual budget deficit is the excess of total _______ over total _______ in a given year.
c. If the government's total budget deficit is \(\$ 20 \) billion and its debt-service payments are \(\$ 18 \) billion,
then its _________ is \(\$ 2 \) billion. If the total budget deficit is \(\$ 20 \) billion and its debt-service payments are \(\$ 26 \) billion, then its ________ is \(\$ 6 \) billion.
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