TAILIEUCHUNG - Lecture Macroeconomics (9/e): Chapter 15 - David C. Colander

Chapter 15 - Deficits and debt. After reading this chapter, you should be able to: Define the terms deficit, surplus, and debt and distinguish between a cyclical deficit and a structural deficit; differentiate between real and nominal deficits and surpluses; explain why the debt needs to be judged relative to assets; describe the historical record for the . deficit and debt. | Any government, like any family, can for a year spend a little more than it earns. But you and I know that a continuance of that habit means the poorhouse. ―Franklin D. Roosevelt Deficits and Debt Chapter Goals Define the terms deficit, surplus, and debt and distinguish between a cyclical deficit and a structural deficit Differentiate between real and nominal deficits and surpluses Explain why the debt needs to be judged relative to assets Describe the historical record for the . deficit and debt 2 Defining Deficits and Surpluses A deficit is a shortfall of revenues under payments A surplus is an excess of revenues over payments In the short run, if the economy is below potential, deficits are good because deficits increase expenditures moving output closer to potential Long-run surpluses are good because they provide saving for investment 3 Financing the Deficit The government finances its deficits by selling bonds to private individuals and to the central bank Bonds are promises

• Kinh tế học
• Lecture Macroeconomics
• Kinh tế vĩ mô
• Macroeconomic problems
• International macroeconomic policy issues
• Financing the deficit
• Cyclical deficit
• Bài giảng Kinh tế vĩ mô
• Science of macroeconomics
• Data of macroeconomics
• Unemployment rate
• Inflation rate
• Principles of microeconomics
• Economic models
• Tools of microeconomics
• Microeconomic transactions
• Natural rate of unemployment
• Consumer price index
• National income
• Agriculture sector
• Agricultural policies
• Economic fluctuations
• Macroeconomic policy
• Business cycle theory