Explain the debt a burden on future generation.
Explanation of Solution
The US has the nation debt of under $1 trillion until 1980, in these most of it resulting from government deficits during recessions or wars. The wartime debt corresponded to a decrease in investment for peacetime uses, but few would regard this as a true burden. The deficits incurred during recessions probably did not constitute a burden either, because during a slack aggregate
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Chapter 32 Solutions
Economics: Principles & Policy
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