Question

During and following the recession of 2007–2009, both President Bush and President Obama received approval from Congress to increase federal spending and cut taxes in order to increase aggregate demand. These actions were examples of aimed at increasing real GDP and employment. A. a transfer payment O B. contractionary fiscal policy O C. an automatic stabilizer OD. discretionary fiscal policy At the end of 2008, the government of France's debt was €1,126.0 billion. (€ is euro, the currency of France). In 2009, the government spent €1,067.0 billion and ended the year with a debt of €1,304.0 billion. How much did the government receive in tax revenue in 2009? The government received € billion in tax revenue in 2009.

Answer 1

In order to reduce the deficit, the U.S. Congress and President Obama have discussed making significant changes to Social Security. Suppose the United States canned Social Security and paid each individual $2000 per year.

If the government dropped Social Security and cut taxes accordingly, working adults would most likely increase their saving in the future because of: Insufficient data is given to answer this question. Why is the government's deficit as a percentage of gross domestic product an important macroeconomic variable? The government's deficit as a percentage of gross domestic product is an important macroeconomic variable because it indicates how much the government is borrowing as a percentage of how much it is spending. If the government borrows too much, it could lead to inflation.

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