As a percentage of GDP, government expenditures ________ from 1960 to the early 1990s, ________ from 1992 to 2008, and have ________ since 2008.

Question

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Government expenditures as a percentage of GDP generally increased from 1960 to the early 1990s, reflecting the expansion of government services and social programs. From 1992 to 2008, there was a trend of fiscal consolidation in many countries, leading to a relative decrease in government expenditures as a percentage of GDP. Since 2008, in response to the financial crisis and subsequent economic challenges, government expenditures have generally increased again as governments have sought to stimulate economies and provide social support.

As a Percentage of GDP, Government Expenditures ________ from 1960