In the current year, a nation's government spending equals $15 trillion and its revenues are $20 trillion. Which of the following is TRUE?
A) The nation's national debt equals $5 trillion.
B) This nation has a current year budget surplus of $5 trillion.
C) This nation is currently running a budget deficit of $5 trillion.
D) The nation has a current year trade surplus of $5 trillion.
B
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Which of the following is a term for account that the depositor has committed to leaving in the bank for a certain period in exchange for a higher rate of interest?
a. Money market fund b. Savings deposit c. Time deposit d. Checking account
In the supply curve, the relationship between price and quantity supplied is
a. inverse. b direct. c. nonexistent. d. not determined.
A country devaluing its currency reduces the official value of its currency
a. True b. False Indicate whether the statement is true or false
Which one of the following is not a mixed economy?
A. United States B. China C. Japan D. All of the countries listed are mixed economies.