Multiple Choice
The cyclically adjusted surplus in the U.S. went from +1.2 percent of GDP in 2000 to −1.2 percent of GDP in 2002. This suggests that the government during that period
A) cut taxes and/or increased spending.
B) increased taxes and/or cut spending.
C) wanted to rein in inflation.
D) did not change its discretionary fiscal policy.
Correct Answer:
Verified
Correct Answer:
Verified
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