Which of the following categories accounted for the largest percentage of total federal government expenditures in recent years?
A. income security
B. national defense
C. education and health
D. interest on the national debt
Answer: A
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A budget deficit occurs if government spending:
A. Equals tax revenues. B. Is greater than tax revenues. C. Is less than tax revenues. D. Causes tax revenues to increase.
In the 1930s, John Maynard Keynes said that our main economic problem was
A. weak aggregate demand. B. too much government spending. C. big budget deficits. D. high interest rates. E. that taxes were too low.
If extraction technology continues to improve over time,
A) the price of crude oil can continue to fall or stay steady. B) the price of crude oil will increase despite any attempts to stem demand. C) the price of crude oil will only fall if sufficient government taxation is implemented. D) the price of crude oil will only fall if sufficient demand declines are arranged.
Why may the debt crisis be only "sleeping" rather than "dead?"
What will be an ideal response?