When a Nation Takes in More from Taxes Than It

question 56

Multiple Choice

When a nation takes in more from taxes than it spends,it has a _____.

• A)fiscal deposit
• B)small cap
• C)Kondratieff wave
• D)budget deficit
• E)balance of trade

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Definitions:

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts and funds obtained from special financing sources.

Labor

Labor refers to the human effort, both physical and mental, used in the production of goods and services, constituting one of the primary factors of production.

Isoquant

A curve representing all combinations of inputs that result in the production of a specific quantity of output in production theory.

Roller Skates

Shoes or boots with four wheels arranged in a rectangular pattern, allowing the wearer to glide along surfaces for recreation or sport.