During the antebellum period, the U.S. used more economic output and resources than were domestically available during expansions and less during contractions. International trade assisted during these cyclical times

Special-interest legislation is legislation where there are both widespread costs and benefits

a. True b. False

The crowding-out effect indicates that increased government borrowing will lead to:

a. an increase in consumption by households and an increase in investment spending by firms. b. an increase in consumption by households and a decrease in investment spending by firms. c. a decrease in consumption by households and an increase in investment spending by firms. d. a decrease in consumption by households and a decrease in investment spending by firms.