Asked by Lorena Edanol on May 19, 2024
Verified
With the advent of the Great Recession,the combined state,local,and federal deficit was $_______ in 2009.
Great Recession
A significant global economic downturn that began in 2007 and lasted until 2009, marked by widespread financial crises, bank failures, and high unemployment rates.
Deficit
The amount by which a government's, company's, or individual's spending exceeds its income over a particular period of time.
2009
A year that marked the end of the late-2000s financial crisis and the beginning of economic recovery for many countries.
- Examine the impacts and trends of governmental fiscal activities, including expenditure and savings, on economic performance.
Verified Answer
VR
Learning Objectives
- Examine the impacts and trends of governmental fiscal activities, including expenditure and savings, on economic performance.