If There Was a Federal Budget Surplus It Would Make

question 80

Multiple Choice

If there was a federal budget surplus it would make it possible to

• A) reduce the national debt.
• B) increase spending on priorities.
• C) decrease taxes in order to improve the equity and efficiency of the tax system.
• D) any of the above

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Definitions:

Course of Performance

A term referring to the conduct between parties that is used to interpret their agreement within their ongoing business relationship.

Usage of Trade

Established practices or methods of dealing regularly observed in a particular industry or trade.

Commercially Impracticable

A condition in contractual agreements indicating that fulfilling the contract has become excessively burdensome or impossible due to unforeseen events.

Perfect Tender Rule

A legal principle requiring the seller to deliver goods in accordance with the terms exactly as specified in the contract, without any deviation.