In 1981, U.S. policy makers predicted a balanced budget as:
a. the budget included a decrease in defense expenditures
b. the budget included an increase in the tax rate.
c. the budget included an increase in unspecified government spending.
d. the growth in GDP was expected to be large enough to lead to an increase in tax revenues despite the tax cut.
e. the growth in GDP was expected to be small enough to require less government spending.
d
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The relationship between the interest rate and the precautionary demand for money is
A) nonexistent. B) inverse. C) positive. D) positive sometimes and inverse other times.
For many years short wave radios were a way of getting news from faraway places and in difficult conditions. But as new technologies have spread, the people listening to these devices has decreased
(Source: The Economist, July 7, 2012) As new technology creates substitutes for short-wave radios, the demand for short-wave radios ________ and the consumer surplus from short-wave radios ________. A) increases; increases B) decreases; decreases C) does not change; decreases D) decreases; does not change
A majority of people in the United States do not have private health insurance
Indicate whether the statement is true or false
Each of the 15 members of the European Union that joined before May 2004 use the euro as their currency
Indicate whether the statement is true or false