Which of the following is not correct? - 3240

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Which of the following is not correct?

A. In 2005, the U.S. government had a deficit.

B. A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.

C. The U.S. debt per-person is large compared with average lifetime income.

D. Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.

Solution Description

Which of the following is not correct?