When Government Expenditures Exceed Revenues There Is a Government Budget

question 6

True/False

When government expenditures exceed revenues there is a government budget deficit.

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Definitions:

Thomas Jefferson

The third President of the United States (1801-1809), principal author of the Declaration of Independence (1776), and one of the most influential Founding Fathers for his promotion of the ideals of democracy and republicanism.

Independent Nation

A sovereign state with complete autonomy and self-governance, not controlled by any foreign power.

Whiskey Rebellion

A tax protest in the United States in the 1790s, the first major challenge to the new government's authority, showing federal power by quelling the rebellion.

Federalists

A political group in the late 18th century United States that supported a strong federal government and the ratification of the Constitution.