Economists Refer to a Budget Deficit Which Exists When the Economy

question 100

Multiple Choice

Economists refer to a budget deficit which exists when the economy is achieving full employment as a:

• A)cyclical deficit.
• B)surplus in the full-employment budget.
• C)natural deficit.
• D)cyclically adjusted deficit.

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Definitions:

Partnership's Profits

Partnership's profits refer to the share of income generated by a business partnership that is distributed among its partners according to the terms of their agreement.

Personal Income Tax

A tax levied on the income of individuals, which varies according to the income level and financial situation of the taxpayer.

Withdrawing

The act of removing or pulling back from a commitment, activity, bank account, or legal proceeding.

Income

The monetary payment received for the provision of goods, services, or labor from one individual or entity to another.