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226) The automatic budget surpluses and budget deficits that occur in the federal budget over thebusiness cyclePage Ref: 964/582Learning Outcome: Macro-9: Discuss fundamental approaches to fiscal policy.227) During the Great Depression, what appeared to be ________ fiscal policy was actually not whenthe ________ budget deficit or surplus is examined.227)Page Ref: 965-966/583-584Learning Outcome: Macro-9: Discuss fundamental approaches to fiscal policy.228) For the federal deficit to be lowered,Page Ref: 963/584Learning Outcome: Macro-9: Discuss fundamental approaches to fiscal policy.229) The federal government debt equalsA) the accumulation of past budget deficits.B) the total value of U.S. Treasury bonds outstanding.C) tax revenues minus government spending.D) government spending minus tax revenues.229)Answer: BPage Ref: 967/585Learning Outcome: Macro-1: Define macroeconomics and identify its basic concerns.230) The federal government debt as a percentage of GDP fellPage Ref: 967/585
Learning Outcome: Macro
1: Define macroeconomics and identify its basic concerns.
231) Which of the following is a reason why we should consider the federal national debt a problem?231)Page Ref: 967/585Learning Outcome: Macro-9: Discuss fundamental approaches to fiscal policy.232) If the federal governmentʹs expenditures are less than its tax revenues, then232)Page Ref: 963/581Learning Outcome: Macro-
9: Discuss fundamental approaches to fiscal policy.
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Economics, budget deficit, Page Ref, 200, 229, Discuss fundamental approaches