If the tax revenue of the federal government is less than its spending, then the federal government necessarily
a. runs a budget deficit.
b. runs a budget surplus.
c. runs a national debt.
d. will increase taxes.
a
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If in the long run, imports are paid for by exports, then
A) any restriction of imports ultimately reduces exports. B) any restriction of imports ultimately expands exports. C) any restriction of imports has no impact on exports. D) any restriction of exports has no impact on imports.
In economics, "capital" refers to
a. money b. stocks, bonds, and other financial assets c. the seat of government d. machines, buildings, tools, and knowledge e. net worth (assets minus liabilities)
Which of the following must be included in an organization’s statement of accounting profits for the statement to be of use?
a. the estimated amount the organization could have earned pursuing other options b. the extent to which technological improvements increased productivity c. the percentages planned for reinvestment or distribution to investors d. the period in which the profit was earned, such as a year or a quarter
Which of the following would tend to encourage more innovation in the United States?
A. Limits on the immigration of scientists and engineers B. Restrictions on the risk that venture capital firms can take C. Stricter enforcement of the patent laws D. Protection of manufacturing industries through tariffs and trade barriers