Federal revenue as a percentage of GDP dropped significantly in the early 2000s because
A) of increased transfer payments due to the recession.
B) of decreased transfer payments due to the recession.
C) of tax-rate decreases passed by the Bush administration and Congress as well as recessionary impacts.
D) of tax-rate increases passed by the Bush administration and Congress as well a recessionary effects.
E) of tax-rate increases passed by the Bush administration .
Correct Answer:
Verified
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