The change from a budget surplus to a budget deficit

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The Federal Government had a budget surplus in 2001 but a budget deficit in 2002. This was due to the recession, the tax cut, and the increased military spending. The change from a budget surplus to a budget deficit was due to: (a) neither cyclical nor structural factors. (b) cyclical factors but not structural ones. (c) structural factors but not cyclical ones. (d) both cyclical and structural factors.

Reference no: EM131112284

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