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Explain how an increased federal budget

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1. Explain how an increased federal budget deficit resulting from a recession can actually help stabilize an economy.;2. Describe how adjustments in wages and prices take the economy from the short-run equilibrium to the long-run equilibrium.;3. Explain why a system of marketable pollution permits leads to less costly pollution abatement and a higher concentration of polluted areas than a command-and-control system.;4. Although GDP per capita is the most commonly used measure of a country?s success, many economists believe it does not give an accurate measure of a nation?s economic well-being. Some studies have concluded that that GDP is not the best measure of well-being, and although it may be the best available on a timely basis, other factors need to be considered in addition to GDP to give a more accurate picture of economic well-being and the disparity of well-being between nations.

 

Paper#29829 | Written in 18-Jul-2015

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