The Federal Government Debt Is Equal to the

question 96

Multiple Choice

The federal government debt is equal to the

• A) annual difference between federal government tax revenues and outlays.
• B) obligations of benefits from federal taxes and expenditures.
• C) sum of all annual federal government outlays.
• D) sum of past budget deficits minus the sum of past budget surpluses.

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Definitions:

Ethical Responsibility

An individual's or entity's obligation to act in ways that are moral, right, and beneficial to society.

Virtue-Based Theories

Ethical theories that focus on the moral character of an individual as the key element of ethical thinking, instead of rules or consequences.

Leader's Character

Relates to the moral qualities and traits that define a person's leadership style and effectiveness.

Utilitarianism

An ethical theory that stipulates the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.