DebtRatio=Debt/NomGDPDefineNationalDebt?what the federalgovernment owescreditors—includingdebt held by thepublic and federalgovernment trustfunds.True or false:Most economistbelieve thatrunning abalanced budget isbad thing to doevery year. They believerunning budgetdeficits in badyears, and offsetthem with budgetsurpluses in goodyearsFree!What are thetwo areas thatgovernmentlargely spendsits tax revenueThings thatgovernmentspendsTheGovernmentspends halftheir budget onwhat twoprograms?SocialSecurity,HealthcareWhat is abudgetdeficit?It is theopposite of apositivebudgetbalanceWhat arecontractionaryfiscalpolicies?What isa debtspiral?What areImplicitLiabilities?Spending promisemade by thegovernment that areeffectively a debtdespite the fact thatthey are no includedin the usual debtstatistics.How do youcalculateNationalDebtAccumulateddeficits -AccumulatedsurplusesHow doescongresslimitDebt?DebtCeilingsHow Much isthe currentNationalDebt in theUS?31.5trillionTrue or false:Are Deficitsand Debt thesame?What areactivestabilizationpolicies?Whenunemploymentrises, does thebudget deficitalso rise?DebtRatio=Debt/NomGDPDefineNationalDebt?what the federalgovernment owescreditors—includingdebt held by thepublic and federalgovernment trustfunds.True or false:Most economistbelieve thatrunning abalanced budget isbad thing to doevery year. They believerunning budgetdeficits in badyears, and offsetthem with budgetsurpluses in goodyearsFree!What are thetwo areas thatgovernmentlargely spendsits tax revenueThings thatgovernmentspendsTheGovernmentspends halftheir budget onwhat twoprograms?SocialSecurity,HealthcareWhat is abudgetdeficit?It is theopposite of apositivebudgetbalanceWhat arecontractionaryfiscalpolicies?What isa debtspiral?What areImplicitLiabilities?Spending promisemade by thegovernment that areeffectively a debtdespite the fact thatthey are no includedin the usual debtstatistics.How do youcalculateNationalDebtAccumulateddeficits -AccumulatedsurplusesHow doescongresslimitDebt?DebtCeilingsHow Much isthe currentNationalDebt in theUS?31.5trillionTrue or false:Are Deficitsand Debt thesame?What areactivestabilizationpolicies?Whenunemploymentrises, does thebudget deficitalso rise?

National Debt and Budget Deficit - Call List

(Print) Use this randomly generated list as your call list when playing the game. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.


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  1. G-Debt/Nom GDP
    G-Debt Ratio=
  2. I-what the federal government owes creditors—including debt held by the public and federal government trust funds.
    I-Define National Debt?
  3. N-They believe running budget deficits in bad years, and offset them with budget surpluses in good years
    N-True or false: Most economist believe that running a balanced budget is bad thing to do every year.
  4. B-Free!
  5. B-Things that government spends
    B-What are the two areas that government largely spends its tax revenue
  6. I-Social Security, Healthcare
    I-The Government spends half their budget on what two programs?
  7. G-It is the opposite of a positive budget balance
    G-What is a budget deficit?
  8. N-What are contractionary fiscal policies?
  9. I-What is a debt spiral?
  10. I-Spending promise made by the government that are effectively a debt despite the fact that they are no included in the usual debt statistics.
    I-What are Implicit Liabilities?
  11. G-Accumulated deficits - Accumulated surpluses
    G-How do you calculate National Debt
  12. N-Debt Ceilings
    N-How does congress limit Debt?
  13. B-31.5 trillion
    B-How Much is the current National Debt in the US?
  14. B-True or false: Are Deficits and Debt the same?
  15. N-What are active stabilization policies?
  16. G-When unemployment rises, does the budget deficit also rise?