True or False:
1. If the U.S. government has a large current federal debt, it must be running a current year deficit.
2. One way the federal government can finance deficits is to print money.
3. When the federal government spends more, other things being equal, it tends to increase both that year's deficit and the federal debt.
4. Sometimes special emergencies, such as military involvements and natural disasters, may lead governments to run deficits.
5. The U.S. federal government has never run a surplus in the last decade.
6. If the economy were in an unsustainable boom, appropriate countercyclical policy would be to increase the budget deficit.
7. If the economy were in recession, a fiscal policy that decreased the budget deficit would make the recession worse.
8. If the federal debt rises as a result of increasing government spending, the burden of the debt will necessarily be greater than the benefit.