Question: Please answer correct explain plz asap plz Don't answer by pen paper Loss of economic activity led to increased government boosting of the economy. This
Please answer correct explain plz asap plz
Don't answer by pen paper

Loss of economic activity led to increased government boosting of the economy. This led us to have staggering deficits and public debt. A Deficits is a shortfall of revenue under payments and a surplus is an excess of revenue over payments. Both ofthese measures are flows meaning that they refer to revenues and pay nets over a said period of time usually a year. By law state and local governments are required to balance their budgets but the Federal Government is allowed to spend more or less than its revenue. There were bills passed in the congress mandating to balance the Federal Budget by a certain year but as the date approaches the congress scrapped those bills and continue to run a deficit. What were those bills, and why they were passes and why they were nullified
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
