Evidence suggests that the method of deficit reduction that least reduces economic efficiency may be slower growth
Question:
a. If consumers believe that deficit reduction must occur in this way, how might this change the current behavior of consumers?
b. How might consumer expectations of future Social Security cuts make the process of deficit reduction easier or more difficult?
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Related Book For
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
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