Many economist believe that misguided macroeconomic policies did more to create the Debt Crisis of the 1980s than ISI

In the long run,

a. continuing budget surpluses cause interest rates to fall, thereby stimulating investment spending b. any deviation from a balanced budget will plunge the economy into recession c. there can be no economic growth unless the government's budget is in surplus d. there can be no economic growth unless the government's budget is balanced e. government spending must increase as a fraction of GDP

Compared to the 1910-1960 period, during the past 50 years the severity of macroeconomic fluctuations has

a. increased. b. decreased. c. changed little. d. increased, but the general level of prices has been more stable.