When government spending exceeds tax revenues during a specific time period, this is known as a
A) government budget deficit.
B) government budget surplus.
C) balanced budget.
D) public debt.
A
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The German Hyperinflation of the early 1920s was caused by
A) large deficits resulting from the high levels of war spending and falling taxes. B) rising oil prices after World War I caused a severe stagflation and hyperinflation. C) an overly aggressive monetary policy implemented to combat a severe recession. D) the German government raising funds for expenditures by selling bonds to the central bank.
In the above figure, suppose the value of the European euro is P1 and U.S. demand for French wine declines. The effect on the franc can be shown by
A) an increase in the value of the euro to P2. B) the excess demand of euro equal to Q3 - Q1. C) the decrease in the value of the euro to P0. D) a shift in the demand for euros from D1 to D0, but no change in the value of the euro.
Since 1990, a major industrial country with the lowest growth rate in per capita GDP has been _____
a. West Germany b. Italy c. The United States d. Great Britain e. Canada
A ______ is a tax on imports.
Fill in the blank(s) with the appropriate word(s).