Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 32 - Part XI - A Macroeconomic Theory of the Open Economy - Questions for Review - Page 702: 2

Answer

Budget deficits and trade deficits are sometimes called the twin deficits since they were closely related in theory and practice.

Work Step by Step

The 'twin deficits' received their name from what happened in the 1980s under the Reagan presidency.
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