| A more binding budget constraint with clear restrictions on deficit financing underlines the need for prudent public expenditure policies. |
| You know, there is such a thing as budget constraint, and it's been real tough, let me tell you. |
| When we overlay Figure 4.2 onto Figure 4.1, we will see that the budget constraint will be tangential to some I-curves and cut across other I-curves. |
| The fiscal authority's intertemporal budget constraint is respected, and the fiscal targets met, through a reaction function that sets the personal direct tax rate endogenously. |
| Given the budget constraint, did the funding priorities and assessment criteria lead to an optimal allocation of the limited program funds? |
| In the static labour supply model, the individual makes a decision by maximizing his or her utility subject to a budget constraint. |
