During the Great Recession,government outlays were ________ and government revenues were ________ their long-run averages over the period 1960-2012.

Question

Quizplus · Accepted Answer

During the Great Recession, government outlays increased due to stimulus spending and social safety net programs, while government revenues decreased due to lower tax receipts from reduced economic activity, both deviating from their long-run averages.

During the Great Recession,government Outlays Were ________ and Government Revenues