Discussions. Must be original

100-200 words each

1) Define the terms deficit, surplus, and debt and distinguish between a cyclical deficit and a structural deficit.

2) Differentiate between real and nominal deficits and surpluses.

3) Explain why the debt needs to be judged relative to assets.

4) Summarize the Classical view of sound finance.

5) Summarize the Keynesian view of functional finance.

6) Explain how automatic stabilizers work. Give an example.