Federal deficits amounted to 3.5 percent of the U.S. GDP by 2003 because of _____
A) the global financial crisis of 2002, which increased the rate of unemployment.
B) an increase in the cost of fighting the war against terrorism.
C) a rise in the stock market that decreased interest payment burdens for the government.
D) a decrease in military and defense spending due to the end of the war in Iraq.
E) an increase in welfare spending and Medicare expenses.
Correct Answer:
Verified
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