Unformatted text preview: b. Identify each of the above terms as either a stock or flow. 3. Explain the difference between “individuals’” debt and “government’s” debt. Hint: The reading discusses three key things regarding this difference. 4. After answering these questions, how would you respond to the chapter’s opening quote from President Franklin D. Roosevelt? “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.”...
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This note was uploaded on 04/08/2008 for the course ECON 102 taught by Professor Salvino during the Fall '07 term at Coastal Carolina University.
- Fall '07