The large U.S.government budget deficits in the early 1980s were caused by
A) wasteful military spending
B) declining transfer payments triggered by more expenditures on education and training
C) President Reagan's attitude toward deficits
D) a recession,expanded military spending,and income tax cuts
E) recessionary gaps in GDP
Correct Answer:
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Q16: The cumulative total of the federal government's
Q17: From the 1960s through the 1990s military
Q18: Which of the following can occur simultaneously?
A)
Q19: Tax avoidance reduces the federal government's revenue
Q20: The national debt
A) is currently greater than
Q22: The U.S.government has tended to keep its
Q23: The national debt
A) exists because of past
Q24: In the long run,
A) continuing budget surpluses
Q25: In an expansion,tax payments tend to increase
Q26: Suppose you are the president of a
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