Asked by Tianna Lopes on May 05, 2024
Verified
Between fiscal years 2008 and 2010,our federal budget deficit as a percent of GDP
A) rose substantially.
B) rose slightly.
C) fell slightly.
D) fell substantially.
Federal Budget Deficit
The shortfall that occurs when the U.S. government's expenditures exceed its revenues within a fiscal year.
GDP
Gross Domestic Product, or GDP, represents the overall market value of all ultimate goods and services manufactured domestically in a specific timeframe.
- Explore the connection between public financial management measures, the price of debt, and the excess of government spending over revenue.
Verified Answer
AA
Ayesha AbbasiMay 10, 2024
Final Answer :
A
Explanation :
The federal budget deficit as a percent of GDP rose substantially during this time period due to the financial crisis and economic downturn.
Learning Objectives
- Explore the connection between public financial management measures, the price of debt, and the excess of government spending over revenue.