Which of the following is a CORRECT sequence of events during a recession? O Unemployment rises, income rises, tax revenue rises, unemployment benefits rise, and the budget deficit rises. O Unemployment rises, income falls, tax revenue falls, unemployment benefits rise, and the budget deficit rises. O Unemployment falls, income falls, tax revenue falls, unemployment benefits rise, and the budget deficit rises. O Unemployment rises, income falls, tax revenue rises, unemployment benefits fall, and the budget deficit falls.

Which of the following is a CORRECT sequence of events during a recession? O Unemployment rises, income rises, tax revenue rises, unemployment benefits rise, and the budget deficit rises. O Unemployment rises, income falls, tax revenue falls, unemployment benefits rise, and the budget deficit rises. O Unemployment falls, income falls, tax revenue falls, unemployment benefits rise, and the budget deficit rises. O Unemployment rises, income falls, tax revenue rises, unemployment benefits fall, and the budget deficit falls.

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter12: Fiscal Policy, Incentives, And Secondary Effects

Section: Chapter Questions

Problem 1CQ

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