The U.S. government budget was
A) continuously in surplus from 1959 to the late 1990s.
B) in surplus for most of the period from 1959-1970, but was in deficit for most of the period from 1970 to the late 1990s.
C) in deficit for most of the period from 1959-1970, but was in surplus for most of the period from 1970 to the late 1990s.
D) continuously in deficit from 1959 to the late 1990s.
B
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Property owned by everyone is generally referred to as
A) social property. B) free property. C) common property. D) natural property.
An effective price ceiling occurs when
A) the government sets a maximum price for a good above the equilibrium price. B) the government sets a minimum price for a good above the equilibrium price. C) the government sets a minimum price for a good below the equilibrium price. D) the government sets a maximum price for a good below the equilibrium price.