Question 1
In 1998, the federal budget ______.
◦ had the highest debt in American history
◦ was balanced and began to run a surplus
◦ comprised major tax cuts for the wealthy
◦ was dominated by middle-class tax cuts
Question 2
John Maynard Keynes was an advocate of ______.
◦ the theory that government should use its fiscal powers to regulate the economy
◦ government elimination of social welfare policies
◦ laissez-faire economic theories
◦ a balanced budget