The SBA Has Two Major Programs: 7(a) for General Business

question 1

True/False

The SBA has two major programs: 7(a) for general business purposes and 504 for the purchase of buildings or major equipment.

Understand the concept of budget surplus and deficit alongside their causes.

Recognize the historical context and current trends in tax burden in the United States.

Identify the major sources of government revenue and their significance.

Understand the impact of demographic changes on government spending.

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Definitions:

Monetary Policy

The process by which a central bank or monetary authority manages the money supply and interest rates to achieve macroeconomic objectives such as controlling inflation, consumption, growth, and liquidity.

Money Supply

The entirety of monetary valuables available in an economy at any chosen time, featuring cash in the form of coins and notes, along with the sums in checking and savings accounts.

Interest Rate

The amount charged by lenders to borrowers for the use of money, expressed as a percentage of the principal.

Real GDP

The measure of a country's economic output adjusted for price changes (inflation or deflation), representing the value of all goods and services produced over a specific period.