Question: In 35 sentences answer the following: 1. Explain the difference between a budget deficit and the national debt. 2. As debt to GDP ratios increase

In 35 sentences answer the following: 1. Explain the difference between a budget deficit and the national debt. 2. As debt to GDP ratios increase for a government, what is likely to happen to the interest rate applied to government debt, and why? 3. What are examples of expansionary fiscal policy? How do these policies affect output, employment and the price level? 4. What are examples of contractionary fiscal policy? How do these policies affect output, employment and the price level

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