Problem
1. Is balancing the budget a contractionary macroeconomic policy?
2. What determines whether budget deficits will result in inflation in the long run?
3. How does the Ricardian equivalence view of the effects of tax cuts (and budget deficits) differ from the traditional view? What objections to the Ricardian equivalence view have been raised?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.