Many economists oppose a constitutional amendment that would require a balanced budget for the federal government because it would probably make the business cycle more volatile.
a. True
b. False

The balanced budget amendment's requirement that total government spending cannot exceed total receipts collected in the same year has far-reaching ramifications for Social Security.

What is Balanced Budget?

A balanced budget is one in which total revenues equal or exceed total costs. After a full year of revenues and expenses have been incurred and recorded, a budget can be declared balanced. Budget deficits, according to proponents of a balanced budget, burden future generations with debt.

Example of Balanced Budget-

If Michael and Jessica earn $75,000 per year but spend only $70,000, they have a balanced budget because their expenses are equal to or less than their income. They can use the extra $5,000 in their budget to pay off debt or meet their savings goals in this situation.

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Many economists oppose a constitutional amendment that would require a balanced budget for the federal government because it would probably make the business cycle more volatile. a. True b. False

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What is a constitutional balanced budget amendment?

What is Balanced Budget?

Example of Balanced Budget-

Otras preguntas

Many economists oppose a constitutional amendment that would require a balanced budget for the federal government because it would probably make the business cycle more volatile.
a. True
b. False