A Balanced-Budget Philosophy Would Be Pro-Cyclical in All the Following

question 137

Multiple Choice

A balanced-budget philosophy would be pro-cyclical in all the following cases except one.Which one is the exception?

• A)A recessionary gap and a budget deficit.
• B)An inflationary gap and a budget deficit.
• C)An inflationary gap and a budget surplus.
• D)High unemployment and a budget deficit.

Apply addition and subtraction operations to algebraic fractions.

Understand how to use beginning, ending, or average values for ratios involving balance sheet figures.

Calculate cash flows from operating, investing, and financing activities.

Develop and interpret a statement of cash flows including reconciliation with the cash account.

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