The federal government's fiscal policy (taxing and spending policy) during the 1920s was one in which
(a) the federal budget was in surplus every year.
(b) the federal budget exerted a mildly deflationary impact on the economy,
tending to slow overall spending in the economy.
(c) Parkinson's third law, "expenditures rise to meet income,"
seemed to hold for the federal government.
(d) all of the above applied.
(d)
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Since 1974, commercial banks importance as a source of funds for nonfinancial borrowers
A) has shrunk dramatically, from around 40 percent of total credit advanced to around 25 percent by 2014. B) has shrunk dramatically, from around 70 percent of total credit advanced to below 50 percent by 2014. C) has expanded dramatically, from around 50 percent of total credit advanced to above 70 percent by 2014. D) has expanded dramatically, from around 30 percent of total credit advanced to above 50 percent by 2014.
In a zero-sum game
A) the gains of one player are less than the gains of the other player. B) the gains of one player are greater than the gains of the other player. C) the gains of one player directly reflect the losses of another player. D) the gains and losses of players are all expressed in zeros.