In the early 2000s in the UK, since taxation was increased and government spending reduced, the budget deficit grew.
Correct Answer:
Verified
Q67: Total expenditure in an economy is equal
Q68: Inflation is the average level of prices
Q69: A decrease in investment by firms will
Q70: Household savings is an example of a
Q71: Leakages in the circular flow of income
Q73: If wages fully adjust to inflation, aggregate
Q74: Higher interest rates will lead to an
Q75: In the circular flow model, goods and
Q76: An increase in aggregate demand will shift
Q77: In the early 2010s, the UK economy
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents