Review Notes - The Public Debt
- - what is the budget deficit?
- - what is the budget surplus?
- - what is the national (public) debt?
- - what are private budget constraints
- - what are public budget constraints
- - local/state governments
- - federal government
- - how do the 3 differ (private, local/state, and
federal)?
- - are deficits/debts bad?
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