The table below shows the cyclically adjusted budget deficit as a percentage of GDP over a five-year period.YearDeficit(-)11.5%21.432.041.851.5Refer to the above information. In which year(s) was fiscal policy contractionary?
A. Year 3 only
B. Years 2, 4, and 5
C. Year 2 only
D. Years 1, 2, and 5
Answer: B
You might also like to view...
Both a perfectly competitive firm and a monopolist find that:
A. price is less than marginal revenue. B. it is best to expand production until the benefit and the cost of the last unit produced are equal. C. they can sell as many units of output as they want at the market price. D. price and marginal revenue are the same.
Which of the following is NOT a function of the federal government?
A) providing public goods and services B) imposing a personal income tax C) making transfers to state and local governments D) making social security and welfare payments E) collecting property taxes
Global warming and biodiversity are examples of ______________ and must, therefore, be addressed by multiple nations rather than a single nation acting alone.
a. international externalities b. national vulnerabilities c. multinational exigencies d. protectionist values
In the last 10 years, private union membership has
A. Increased, while public union membership has decreased. B. Decreased along with public union membership. C. Increased along with public union membership. D. Decreased, while public union membership has increased.