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Textbooks / Business / Principles of Economics 6 / Chapter 1 / Problem Problems and Applications 1.16

A policymaker is deciding how to finance the construction of a new airport. He can

Principles of Economics | 6th Edition | ISBN: 9780538453059 | Authors: N. Gregory Mankiw ISBN: 9780538453059 472

Solution for problem Problems and Applications 1.16 Chapter 1

Principles of Economics | 6th Edition

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Principles of Economics | 6th Edition | ISBN: 9780538453059 | Authors: N. Gregory Mankiw

Principles of Economics | 6th Edition

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Problem Problems and Applications 1.16

A policymaker is deciding how to finance the construction of a new airport. He can either pay for it by increasing citizens taxes or by printing more money. What are some of the short-run and long-run consequences of each option?

Step-by-Step Solution:

Step 1 of 2

Construction of new infrastructure in an economy is one of the government's expenditures and is financed by collecting revenue from the individuals in the economy.

Step 2 of 2

Chapter 1, Problem Problems and Applications 1.16 is Solved
Textbook: Principles of Economics
Edition: 6
Author: N. Gregory Mankiw
ISBN: 9780538453059

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A policymaker is deciding how to finance the construction of a new airport. He can