Multiple Choice
New Tapan, an African country, invested resources in the defense sector, and as a result, its budget deficit grew. To decrease the budget deficit, the government cut down its expenditures in several other sectors and imposed higher taxes. In this scenario, the measures implemented by the government of New Tapan most likely created _____.
A) the fiscal cliff
B) a reserve requirement
C) the debt ceiling
D) an earmark
Correct Answer:
Verified
Correct Answer:
Verified
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