Which of the following correctly describes the trend in the federal budget during the 1980s?
a. Federal spending declined relative to GDP, while federal revenues rose relative to GDP.
b. Federal spending rose relative to GDP, while federal revenues declined relative to GDP.
c. Balanced budgets were passed through cooperation between the President and Congress.
d. The dollar depreciated,
thereby lowering the deficit.
e. The budget deficit decreased and then disappeared, turning into a surplus in the 1980s.
b
Economics
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In the balance of payments, any transaction that leads to a receipt by a resident of a country or its government is a(n)
A) asset. B) minus item. C) deficit item. D) surplus item.
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The threat of rejection in market transactions:
A. leads to better products for consumers. B. leads to lower prices for consumers. C. leads to greater cooperation between buyers and sellers. D. does all of these.
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