Under a balanced budget policy, a sharp decline in GDP will cause
a. no serious budget changes.
b. a tax cut or an increase in expenditures.
c. a tax increase or expenditure cut.
d. tax receipts to exceed government expenditures.
c
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Using the formula for an infinite sum, if "r" designates the reserve ratio, the 1 / reserve ratio would equal
A) (1 - r). B) 1 / (1 - r). C) r / (1 - r). D) 1 / [1 - (1 - r)].
The M2 multiplier in the United States is currently about
A) 16. B) 23. C) 4. D) 50. E) 1.
From 1968 till 1980, budget deficit was on average around ________ percent of natural GDP; and from 1981 till 1995, it was ________ percent of natural GDP
A) 19.8; 21.5 B) 21.5; 19.8 C) 1.5; 3.5 D) 3.5; 1.5
What was the overall trend of U.S. union membership beginning the 1960s? What was the main reason behind that trend?
What will be an ideal response?