The National Debt

question 4

Multiple Choice

The national debt

• A) is the difference between total government revenues and government expenditures.
• B) is the sum of all past federal deficits plus any surpluses.
• C) is the sum of all past federal deficits less any surpluses.
• D) grows when government spending increases.

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Definitions:

Observers

Individuals who watch or take notice of events or behaviors, often for the purpose of recording information or making judgments.

Fundamental Attribution Error

The tendency to attribute others' actions to their character or personality while underestimating situational influences.

Defensive Attribution

A cognitive bias that leads individuals to attribute more blame to victims of misfortune than is warranted, often to believe that such events would not happen to themselves.

Illusory Correlation

The perception of a relationship between two variables when no such relationship exists, often a result of cognitive biases.