Asked by Azreen Azahari on Jul 04, 2024
Verified
The largest increase in the federal budget deficit during the following periods was from
A) 1974-1977.
B) 1977-1980.
C) 1980-1983.
D) 1983-1986.
E) 1986-1989.
Federal Budget Deficit
The financial shortfall when a government's expenditures exceed its revenues in a given fiscal year.
- Comprehend the importance and effects of federal budget surpluses and deficits on the national economic landscape.
Verified Answer
SB
Shelby BucklerJul 08, 2024
Final Answer :
C
Explanation :
The largest increase in the federal budget deficit during the following periods was from 1980-1983, when the deficit increased from $59 billion to $208 billion. This was due to a combination of factors, including tax cuts, increased defense spending, and a recession.
Learning Objectives
- Comprehend the importance and effects of federal budget surpluses and deficits on the national economic landscape.