What best describes state fiscal experience in the late 1920s and early 1930s?
a. Revenues dropped consistently through the period because less was being produced.
b. State spending decreased through the period
c. The growth in state expenditures exceeded the growth of federal expenditures during the same period.
d. States either ran budget surpluses or fairly small deficits.
d. States either ran budget surpluses or fairly small deficits.
Economics
You might also like to view...
Which of the following is NOT a monetary policy tool?
A) last resort loans B) open market operations C) required reserve ratio D) federal funds rate
Economics
An oligopolist cares very much about what other firms in her industry are doing.
Answer the following statement true (T) or false (F)
Economics