Prior to the Great Depression, when did federal deficits primarily occur?
A) during peacetime
B) during wartime
C) during recessions
D) during economic expansions
E) deficits never occurred prior to the Great Depression

Question

Quizplus · Accepted Answer

Prior to the Great Depression, federal deficits primarily occurred during wartime. The government would ramp up spending during times of war and often relied on borrowing to finance the increased spending.

Prior to the Great Depression, When Did Federal Deficits Primarily