Question

Of the $840 billion American Recovery and Reinvestment Act stimulus package which wasenacted in 2009, approximately one-third took the form of ________ and two-thirds took theform of increases in ________.A) discretionary government spending; transfer payments B) treasury bond purchases; the money supplyC) tax rebates; tax cuts D) tax cuts; government expenditures

Answer 1

Answer:

The correct answer is D) tax cuts; government expenditures.

Explanation:

United States Recovery 2009 is a federal public law passed by the 111th United States Congress and signed by President Barack Obama. Its legislative history had three versions, the first approved by the House of Representatives, and a second version approved by the Senate. The final version - a conference version resulting from the negotiations of the House of Representatives and the Senate - was approved by the leadership of both houses of Congress on February 13, 2009, and signed on February 17 of that year by the president Barack Obama.

Based largely on major proposals made by President Barack Obama, the United States Recovery Act and the Reinvestment Act are intended to provide a stimulus for the US economy. UU. as a result of the economic recession caused by the subprime mortgage crisis and the consequent credit shortage.