Explain public finance.
Understand the Problem
The question is asking for an explanation of the concept of public finance, which involves the management of a country's revenue, expenditures, and debt load through various government and quasi-government institutions.
Answer
Public finance is the management of government revenue, expenditures, and debt.
Public finance is the management of a government's revenue, expenditures, and debt. It involves how governments generate revenue through taxes and other means, spend money to meet societal needs, and manage their debt.
Answer for screen readers
Public finance is the management of a government's revenue, expenditures, and debt. It involves how governments generate revenue through taxes and other means, spend money to meet societal needs, and manage their debt.
More Information
Public finance also includes assessing how these financial activities impact the economy, aiming to achieve fiscal sustainability while addressing issues like income inequality.
Sources
- Public Finance - CFI - corporatefinanceinstitute.com
- Public Finance 101 - Peak Frameworks - peakframeworks.com
- Public finance - Wikipedia - en.wikipedia.org
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