Suppose the Only Revenue Taken in by the Government Is

question 148

Multiple Choice

Suppose the only revenue taken in by the government is in the form of income tax, and the tax rate is 10 percent. If aggregate income is $800 billion, and government outlays are $100 billion then the government budget has

• A) a deficit of $20 billion.
• B) a surplus of $20 billion.
• C) a deficit of $80 billion.
• D) neither a surplus nor a deficit.

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Definitions:

Respirations

The biological process of inhaling oxygen and exhaling carbon dioxide, necessary for the life of many organisms.

Pulse

The rhythmic throbbing of the arteries as blood is propelled through them, typically felt in the wrists or neck.

Heart Beats

The rhythmic contraction and relaxation of the heart muscles that circulate blood throughout the body.

Tympanic Thermometer

A type of electronic thermometer that measures infrared energy emitted from the tympanic membrane.