By far the largest real government budget deficits measured as a percentage of natural real GDP occurred during
A) World War I.
B) the Great Depression.
C) World War II.
D) the late 1960s.
E) the late 1980s and early 1990s.
C
You might also like to view...
Oligopolistic firms are the only ones that consider their rivals' actions when making decisions about output and price
a. True b. False
A vertical aggregate supply curve favors which of the following policies?
A. Discretionary policy B. Fiscal policy C. The Fed's eclecticism D. Fixed rules
Exhibit 17-1: Global Comparison of Government Surpluses and Deficits as a Percentage of GDP, 2016 ? Country Surplus (+) or Deficit (-) as a percent of GDP Canada -1.10 Iceland 12.57 Latvia 0.06 Norway 3.99 Spain -4.51 United States -4.94? Given the information in Exhibit 17-1, which of the countries shown was closest to balancing its budget?
A. Iceland B. Latvia C. Norway D. United States
A cartel is
A. A group of firms with an explicit, formal agreement to fix prices and output shares in a particular market. B. Not illegal in the United States. C. A type of market structure. D. An organization intended to increase competition in an industry.