Asked by
Jemoi Gibbs
on Oct 12, 2024
Verified
From 1970 to 1997,the federal government ran a _____ and the state and local governments combined ran a ___.
A) deficit;deficit
B) surplus;surplus
C) surplus;deficit
D) deficit;surplus
Federal Government
The national government of a federal country, which holds the authoritative powers conferred to it by a constitution.
Deficit
A deficit occurs when an entity's expenditures exceed its revenues over a specified period, often referring to government budgets.
Surplus
The situation in which the quantity supplied of a good exceeds the quantity demanded, often resulting in downward pressure on the price.
- Comprehend the consequences that governmental policies and expenditure on the military have on the growth of the economy.
Verified Answer
JH
Learning Objectives
- Comprehend the consequences that governmental policies and expenditure on the military have on the growth of the economy.