Fill in the blanks to make the following statements correct. a. The government's budget constraint shows that

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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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Macroeconomics

ISBN: 9780133910445

15th Edition

Authors: Christopher T S Ragan

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