The federal budget deficit becomes _____ during recessions because _____
a. smaller; transfer payments increase and tax revenues decline
b. larger; transfer payments increase and tax revenues decline
c. larger; both transfer payments and tax revenues increase
d. smaller; both transfer payments and tax revenues increase
e. smaller; both transfer payments and tax revenues decrease
b
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In the early 1950s the two new factors that stimulated the United States' economy were ___________ and ____________.
Fill in the blank(s) with the appropriate word(s).
Explain why any firm must generate enough revenue to cover its variable costs in the short run
What will be an ideal response?
Which of the following would not cause the supply curve for gasoline to shift?
A) A change in the wages paid to gas station attendants. B) A change in the number of gas stations. C) A change in the incomes of drivers. D) A change in the cost of refining oil.
Which of the following is true concerning the effects of inflation?
a. inflation hurts those on fixed incomes b. inflation benefits debtors c. inflation hurts creditors d. All of the above are true.