During the recession of 20072009, the U.S. federal governments tax collections fell from about $2.6 trillion down

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During the recession of 2007–2009, the U.S. federal government’s tax collections fell from about $2.6 trillion down to about $2.1 trillion while GDP declined by about 4 percent. Does the U.S. tax system appear to have built-in stabilizers?

a. Yes

b. No

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Macroeconomics

ISBN: 9781264112456

22nd Edition

Authors: Campbell McConnell, Stanley Brue, Sean Flynn

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Question Posted: Mar 02, 2024 01:00 PM

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During the recession of 20072009, the U.S. federal governments tax collections fell from about $2.6 trillion down

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a Yes During an economic downturn the US tax system ex...View the full answer

Macroeconomics

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