Which of the Following Years Was There NOT a Federal

question 110

Multiple Choice

Which of the following years was there NOT a federal income tax cut?

• A)1981
• B)1986
• C)1993
• D)2001
• E)2003

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Definitions:

Trade Deficit

A situation where a country's imports exceed its exports, leading to net outflow of domestic currency to foreign markets.

Exports

Goods or services sent from one country to another for sale or trade, contributing to a country's economy.

Imports

Goods or services brought into one country from another for the purpose of sale.

Comparative Advantage

A principle that states a country should produce goods and services at a lower opportunity cost than its trade partners.