Multiple Choice
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.
Correct Answer:
Verified
Correct Answer:
Verified
Q26: If the government spends exactly what it
Q37: Why is it unlikely that tax increases
Q42: Ceteris paribus, deficit spending results in higher
Q44: Between the years 1998 and 2001, the
Q45: Guaranteed benefits under government programs such as
Q60: When government revenues exceed government outlays in
Q93: When government spending exceeds government revenues during
Q110: A government budget deficit occurs during a
Q117: Which of the following statements about the
Q129: If the net public debt remains unchanged