When a government spends more than it earns in revenue, we say that it has a:
A. budget surplus.
B. budget deficit.
C. budget crisis.
D. federal debt.
B. budget deficit.
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According to this Application, if you earn a salary of $80,000 in the first year and all prices decrease by half in the next 5 years, what will your nominal annual salary be in 5 years?
A) $8,000 B) $10,000 C) $20,000 D) $40,000
If the saving rate increases, break-even investment will be ________ than investment, and GDP per worker will ________
A) greater; increases B) greater; decreases C) less; increases D) less; decreases
Leaving the labor force or finding a job are two ways that:
A. an unemployment spell can end. B. a person can become a discouraged worker. C. a person can become an involuntary part-time worker. D. an unemployment spell can begin.
Rent controls primarily benefit
A) property owners. B) people looking for rental units. C) builders. D) people who already occupy rental units.