Proponents of a balanced budget amendment to the Constitution argue that it will finally exert discipline on the federal government and so prevent large peacetime deficits. What do the critics argue?
What will be an ideal response?
Critics of a balanced budget amendment point to several problems; first, it may make it harder to stabilize the economy; second, the Constitution may not be the correct vehicle for dealing with the problem; third, Congress could devise special ways to get around the restrictions; and finally, Congress can also find nonbudgetary ways to get around the restrictions.
You might also like to view...
When companies sell slightly different forms of a product to different groups of customers, this is known as
A) market testing. B) editions. C) adaptations. D) versioning.
At consumer equilibrium income is allocated to purchases so that the ratio of marginal utility to price is equal for different goods
a. True b. False Indicate whether the statement is true or false
Which of the following is a difference between microeconomics and macroeconomics?
a. Microeconomics focuses on the actions of particular actors within the economy, while macroeconomics looks at the economy as a whole. b. Microeconomics focuses on the division of labor, while macroeconomics focuses on the division of capital. c. Microeconomics focuses on the development of small and medium enterprises, while macroeconomics focuses on the development of large business houses. d. Microeconomics focuses on the development of the nation, while macroeconomics focuses on the economic wellbeing of each household in an economy.
Governments at the local, state, or federal level create monopolies by awarding a single firm the exclusive right to supply a good or service. Examples include food concessions at airports and sports events, cable-access television, and garbage collection
Indicate whether the statement is true or false