The Federal Budget Was in Deficit from 1931 to 1939,except

question 43

Essay

The federal budget was in deficit from 1931 to 1939,except in the year 1937.Given this fact,how do you explain E.Cary Brown's statement,"Fiscal policy,then,seems to have been an unsuccessful recovery device in the 'thirties-not because it did not work,but because it was not tried."

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Definitions:

Perpetual Inventory

A system of inventory management where updates are made continuously as inventory items are bought and sold.

Defective Merchandise

Defective merchandise refers to products that are damaged or fail to meet quality standards or specifications at the time of sale.

Gross Profit

The financial measure calculated by deducting the cost of goods sold from total sales revenue.

Selling Expenses

Costs associated with the marketing and distribution of a product, including advertising, sales staff salaries, and shipping costs.