During the recession of 2001,
a. there were a number of proposals for tax increases or spending cuts to stir the economy, but they failed due to worries about their effects on the already large deficit.
b. a series of tax cuts were passed, though they only occurred in late 2001.
c. all the proposed tax and spending cuts were approved in order to motivate the economy and reduce the large deficit.
d. the cyclical deficit increased but the structural deficit remained unchanged.
e. None of the above
B
You might also like to view...
Suppose that the interest rate is greater than the equilibrium interest rate. Which of the following occurs?
I. There is an excess quantity of money. II. The quantity of money automatically increases. III. The interest rate falls. A) I B) I and II C) I and III D) I, II and III
"Localvores" refers to food products which are
A) organically produced. B) imported from foreign countries. C) grown in places which are close to the point of consumption. D) provide health and nutritional benefits in combating diseases.