The Budget Enforcement Act of 1990:
a. was a package of spending cuts and tax increases designed to reduce budget deficit.
b. succeeded in balancing the budget cyclically.
c. succeeded in balancing the budget within two years.
d. identified defense and international programs as the only two areas of potential spending cuts.
e. gave the President the authority to make unilateral spending cuts to balance the budget.
Question 2
Which of the following is true about U.S. history prior to the 1950s?
a. The inflation rate remained constant during this period.
b. Cost-push inflation led to depressions, which were followed by slowly-rising price levels.
c. The price level remained constant during this period.
d. Major wars resulted in high inflation rates, after which the inflation rate tapered off.
e. Major wars resulted in high inflation rates that were usually followed by deflation.
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