1. _________ was the first president to consciously use fiscal policy to stabilize the economy. 2. Since both taxes and government spending increased in the United States during the 1930s, there was...

1. _________ was the first president to consciously use fiscal policy to stabilize the economy.

2. Since both taxes and government spending increased in the United States during the 1930s, there was __________ (large/little/no) net fiscal expansion.

3. The U.S. economy witnessed federal budget surpluses in _________.

4. Long-run average income is known as _________ income.