Multiple Choice
The cyclically adjusted deficit as a percentage of GDP is 2 percent in Year 1. This cyclically adjusted deficit becomes 1 percent of GDP in Year 2. It can be concluded that from Year 1 to Year 2,
A) fiscal policy was more expansionary.
B) fiscal policy was more contractionary.
C) the Federal government is decreasing taxes.
D) the Federal government is increasing spending.
Correct Answer:
Verified
Correct Answer:
Verified
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