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 Midterm 4.0.pages
(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.