For the fiscal year starting in October 2003, the U.S. government reported a budget deficit of
A) $3.83 trillion or about 38 percent of GDP.
B) $383 billion or about 3.8 percent of GDP.
C) $4.5 trillion or about 45 percent of GDP.
D) $450 billion or about 4.5 percent of GDP.
E) none of the above.
Correct Answer:
Verified
Q17: Outlays by the federal government in 2003
A)
Q18: The tax revenue elasticity with respect to
Q19: A tax is progressive with respect to
Q20: Tax collections by the federal government of
Q21: Deficits are correlated inversely with
A) the rate
Q23: Any deficit that a government might run
Q24: Which of the following policy measures is
Q25: Changes in GDP translate into changes in
Q26: Which of the following word equations accurately
Q27: It is not completely accurate to assume
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