Question: Question 6. a) Explain how a budget deficit makes future generations worse off. Explain how reducing the budget deficit might make future generations better off.

Question 6.

a) Explain how a budget deficit makes future generations worse off. Explain how reducing the budget deficit might make future generations better off. Please explain in one hundred and fifty words.

b) Discuss the difference between monetary policy and fiscal policy. Minimum three point. Explain why monetary and fiscal policy work with a lag? Please explain in one hundred and fifty words. Thank you.

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