Use the following table to determine which statement is true.YearRevenuesGovernment Expenditures194639.355.2194738.554.5194841.629.8194939.438.8195039.442.6
A. The debt fell from 1946 to 1950.
B. The debt rose each year from 1946 to 1950.
C. In 1946 and 1950, the budget was in deficit, while from 1948 to 1949, the budget was in surplus.
D. In 1946 and 1950, the budget was in surplus while from 1948 to 1949, the budget was in deficit.
Answer: C
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The concept of "economic pessimism" stems from
A) the theory and empirical fact which states that developing nations face declining export prices relative to increasing import prices. B) the fact that economic growth in an era of globalization is difficult to attain. C) the fact that smaller countries would not enjoy comparative advantage unless they are allowed to subsidize some of their industries. D) the fact that it is impossible to achieve desired economic development without adopting full democratic principles.
Why might businesses decide to hold on to products to sell later when the economy is experiencing high levels of inflation?
A. Taxes will limit production. B. Prices will continue to rise. C. Cash will be in short supply. D. Income will remain constant.