Many Economists Describe the 2007-2009 Period in the United States

question 191

Multiple Choice

Many economists describe the 2007-2009 period in the United States as being a condition of a(n)

• A)deflationary gap.
• B)recessionary gap.
• C)inflationary gap.
• D)reflationary gap.

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Definitions:

Tax Laws

Regulations and legal standards governing the collection of taxes by the government from individuals and organizations.

Preferential Treatment

The act of giving advantageous conditions or benefits to certain groups or individuals over others, often based on criteria outside of merit.

Retirement Saving

Financial savings accumulated over an individual’s working life to provide income in retirement.

Balanced-Budget Policies

Financial or fiscal strategies employed by governments to ensure spending does not exceed income.