Which of the following statements is true regarding the government budget?
A) The government's budget has been in deficit since the 1960s.
B) The government's budget has been in deficit since the 1960s except for a brief period since 2012.
C) The government's budget was generally in surplus until the 1980s, then mostly in deficit since except for a brief period between 1998 and 2001.
D) The government's budget was generally in deficit since the 1960s, except for a brief period between 1998 and 2001
Ans: D) The government's budget was generally in deficit since the 1960s, except for a brief period between 1998 and 2001.
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An increase in education and training
A) increases labor productivity. B) increases aggregate hours. C) decreases real GDP growth. D) increases the employment-to-population ratio.
Toward the end of 2008, the U.S. economy was characterized by all of the following except
A) credit tightening by banks. B) rising inflation. C) falling real GDP. D) an unprecedented federal funds rate below 1%.