问题
单项选择题
The crowding-out model implies that a:（）
A. budget deficit will increase the real interest rate and thereby retard private investment.
B. budget surplus will retard aggregate demand and trigger an economic downturn.
C. budget surplus will be a highly effective weapon against inflation.
答案
参考答案：A
解析：
Increased budget deficits will increase the demand for loanable funds and lead to higher interest rates and thus lower private investment. Crowding-out implies that an increase in government spending will choke off private investment and reduce the intended impact of fiscal policy changes on aggregate demand.