Need-based spending _{--------------------} during an expansion and_{--------------------} during a recession, which leads to larger budget deficits during the_{--------------------} phase of the business cycle.

Question

Quizplus · Accepted Answer

During an expansion, need-based spending decreases as fewer people require assistance. During a recession, it increases due to higher unemployment and economic hardship, leading to larger budget deficits during the recession phase.

Need-Based Spending -------------------- During an Expansion And-------------------- During a Recession

Need-Based Spending _{--------------------} During an Expansion And_{--------------------} During a Recession