A disadvantage of having an annually balanced budget is that government spending would have to:
a. allow the national debt to burgeon with chronic deficits
b. decline during a recession to offset the increase in tax revenues.
c. rise during a recession to match the increase in tax revenues.
d. rise during an expansion to offset the decline in tax revenues.
e. decline in a recession to match the decrease in tax revenues.
e
Economics
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When the price of a product increases from $35 to $45, the quantity supplied increases from 30 units to 40 units per week. Using the midpoint method, the price elasticity of supply is
A) 0.00. B) -1.1. C) 1.14. D) 1.35. E) 0.88.
Economics
If a country's imports exceed its exports it has a trade surplus
a. True b. False Indicate whether the statement is true or false
Economics