What is the relationship between the public debt and the debt-to-GDP ratio? How does the U.S. debt ratio compare to the ratios in other demo cratic market economies?
Answer to relevant QuestionsExplain why some economists believe the burden of a public debt cannot be shifted onto future generations. Admitting all exceptions to the rule, the rule is that free trade benefits all nations. Make the case. The European Union started out as a customs union of six nations, but that is not what it is today. What is it today? Fill in the blank cell--labor-hours to produce a unit of French wine--to show France's comparative advantage in producing cloth. Explain. Some economists argue that our budgetary defi cits contribute to our balance of payments prob lems. How do they make their case?
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