What did Keynes say about budget deficits?
A) They can lift an economy out of recession.
B) They are to be avoided at all costs.
C) They are best fought with large tax breaks.
D) A government's goal should always be to get away from deficits in favor of a balanced budget.
E) Deficits and unemployment are inseparable.
A
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The U.S. trade deficit is approaching $1 trillion, with about a quarter accounted for by trade with China and another quarter by oil imports. This is an example of the principle of __________
A) surplus of consumer goods B) trade deficit C) trade surplus D) restricted free trade
In 1998 Scotland and Wales were given their own _____________, which had power over local issues such as education and health services
a. regional assemblies b. federal assemblies c. apportionment districts d. independent administrations