The actual budget deficit of the federal government in 2009 was about $1.4 trillion.On the basis of this information, it
A) can be concluded that the economy was faced with serious inflation in 2009.
B) cannot be determined whether the government engaged in expansionary or contractionary fiscal policy in 2009.
C) can be concluded that fiscal policy was contractionary in 2009.
D) can be concluded that fiscal policy was expansionary in 2009.
Correct Answer:
Verified
Q27: The cyclically adjusted budget refers to
A)the inflationary
Q28: Suppose the price level is fixed, the
Q29: Built-in stability means that
A)an annually balanced budget
Q30: Which of the following statements is correct?
A)Built-in
Q32: A major advantage of the built-in or
Q33: Suppose the price level is fixed, the
Q34: Which of the following statements is correct?
A)The
Q35: An expansionary fiscal policy is shown as
Q36: Which of the following represents the most
Q55: Which of the following best describes the
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