Historically, the largest U.S. federal budget deficits as a percentage of GDP since the beginning of the 20th century occurred during
A) the Great Depression.
B) World War I and World War II.
C) 1970-1997.
D) 2007-2009.
B
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Price ceilings lead to market surpluses
a. True b. False Indicate whether the statement is true or false
For the fall semester, you had to pay a nonrefundable fee of $600 for your meal plan, which gives you up to 150 meals. If you eat 100 meals, your average cost for a meal is:
A. $0.25. B. $4. C. $5. D. $6.
In the Great Recession of 2007-2009, the stock market values shrank, causing a reverse:
A. Wealth effect
B. Real-balances effect
C. Interest-rate effect
D. Expectations effect
Which of the following will NOT cause the public debt to change?
A. government budget surplus B. government budget deficit C. an amount of tax collection by the government more than it spends D. balanced budget