Use the following table to determine which statement is true.YearRevenuesGovernment Expenditures194639.355.2194738.554.5194841.629.8194939.438.8195039.442.6
A. The debt fell from 1946 to 1950.
B. The debt rose each year from 1946 to 1950.
C. In 1946 and 1950, the budget was in deficit, while from 1948 to 1949, the budget was in surplus.
D. In 1946 and 1950, the budget was in surplus while from 1948 to 1949, the budget was in deficit.
Answer: C
You might also like to view...
Suppose a country's net exports equal -$17.7 billion. Which of the following will happen if the volume of imports increases by $7 billion without any change in the volume of exports?
A) The country's net exports will stand at zero. B) The country's net exports will become positive. C) The country's net exports will stand at -$10.7 billion. D) The country's net exports will stand at -$24.7 billion.
Income inequality increases as the Gini coefficient approaches 1
Indicate whether the statement is true or false
You decide to donate $5 to Jerry's Kids at the grocery store checkout, and get to sign your name to a shamrock and hang it in their window. This is an example of the economic concept of:
A. marginal utility. B. altruism. C. reciprocity. D. selfishness.
An economy that is operating below its full-employment capacity is experiencing a(n):
a. tax-induced recession. b. recessionary gap. c. fiscal drag. d. market correction. e. inflationary gap.