The national debt is the amount
A) by which government outlays exceed tax revenue in a given year.
B) by which government tax revenue exceed outlays in a given year.
C) of government outlays summed over time.
D) of debt outstanding that arises from past budget deficits.
E) of all future entitlement spending.
D
You might also like to view...
A preferred shareholder
a. receives a stated dividend yield if profits are sufficient b. can vote at shareholder meetings on important corporate matters c. can vote at shareholder meetings only on the election of the members of the board of directors d. can convert his or her shares into common shares e. receives a dividend before bondholders receive anything
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Dumping occurs when a producer
A. exports low priced low quality products. B. sells an export at a higher price than it charges domestically. C. buys raw materials at exploitatively low prices. D. makes a predatorily attempt to bankrupt foreign competitors to establish a worldwide monopoly by selling below cost.
When the amount of direct and indirect financing are summed, the result is usually:
A. equal to GDP. B. less than GDP. C. greater than 100% of GDP. D. approximately 50% of GDP.