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The author of Frames of Mind is ..............
Government Borrowing
The act of governments raising funds through issuing debt securities or borrowing directly from financial institutions to finance government spending.
Private Sector
The private sector encompasses businesses and activities not owned or directly managed by the government, operating primarily through the private enterprise and market system.
Balanced Budget
A financial situation where revenues are equal to expenditures, resulting in no deficit or surplus.
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, visible in real GDP, real income, employment, industrial production.
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