A budget deficit is the
A. annual excess of government spending over revenue raised by taxes, fees, and charges.
B. shortfall of Social Security collections toward payment of benefits.
C. amount by which tax revenues and borrowed funds fall short of government expenditures.
D. excess of tax revenues over expenditures.
A. annual excess of government spending over revenue raised by taxes, fees, and charges.
You might also like to view...
Which of the following activities is most likely to be counted in GDP?
A. Gail buys paper and crayons to donate to poor children in need of school supplies. B. Fran volunteers at the local veteran's hospital twice a month. C. Stu gave $5 to a homeless man he met in the park. D. Bud works hard five hours each week to make sure that his lawn always looks nice.
Public choice theorists say that the greater the number of potential voters in an election, the __________ the perceived benefits of voting held by each voter, and so the __________ the likely percentage turnout of voters
A) greater; lower B) greater; higher C) smaller; lower D) smaller; higher
If this is a closed economy, the number of TVs exchanged will be ________.
A. 120,000 B. 90,000 C. 60,000 D. 30,000
When the price of pens went from $1 to $1.50, the quantity demanded of pencils changed from 50 to 75 a day. The cross-price elasticity of demand for pencils (using the initial value formula) is:
A. 1. B. 0.4. C. 0.2. D. -0.2.