Under Which of the Following Presidents Did the Federal Government

question 44

Multiple Choice

Under which of the following presidents did the federal government actually have a government surplus?

• A) Ronald Reagan, a Republican
• B) George H. W. Bush, a Republican
• C) Bill Clinton, a Democrat
• D) George W. Bush, a Republican
• E) Barack Obama, a Democrat

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Definitions:

Free Trade

The economic policy of not discriminating against imports from and exports to foreign jurisdictions, allowing goods to move across borders without regulatory or tariff barriers.

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower opportunity cost than its competitors, underpinning the rationale for international trade.

Job Losses

The act of becoming unemployed due to factors like economic downturns, restructuring, or automation.

Job Gains

Increases in the number of jobs available in an economy, indicating employment growth and potentially a strengthening economic condition.