1. Throughout U.S. history, the most common cause of large increases in government debt has been a....

Question:

1. Throughout U.S. history, the most common cause of large increases in government debt has been

a. recessions, which cause tax revenue to decline.

b. supply-side policies that promote growth with tax cuts.

c. wars, which cause large increases in government spending.

d. entitlement programs that provide income and health care to the elderly.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Macroeconomics

ISBN: 9781319263904

11th Edition

Authors: N. Gregory Mankiw

Question Posted: