The federal budget deficit has grown so quickly in the past 5-10 years because of a) increased spending on entitlement programs. O b) lower income tax rates on the top 1% of households. Oc) increased tax revenue. O d) economic expansion. O e) higher interest payments on current government debt.

The federal budget deficit has grown so quickly in the past 5-10 years because of a) increased spending on entitlement programs. O b) lower income tax rates on the top 1% of households. Oc) increased tax revenue. O d) economic expansion. O e) higher interest payments on current government debt.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter11: Fiscal Policy

Section: Chapter Questions

Problem 2.9P

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Question

The federal budget deficit has grown so quickly in the past 5-10 years because of
O a) increased spending on entitlement programs.
O b) lower income tax rates on the top 1% of households.
Oc) increased tax revenue.
O d) economic expansion.
O e) higher interest payments on current government debt.

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