An economic theory is also known as an economic
A) model.
B) prediction.
C) conclusion.
D) assumption.
Question 2
All of the following are possible explanations for the increase in U.S. government budget deficits as a percentage of GDP since the early 2001 EXCEPT
A) increases in tax revenues.
B) increases in payments for entitlements.
C) increases in government spending.
D) decreases in tax rates.
