One Approach to Measure the Size of Government Is the Volume

question 8

Multiple Choice

One approach to measure the size of government is the volume of its annual expenditures.

• A)True
• B)False
• C)Uncertain

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Definitions:

Trade Balance

The difference in value between a country's imports and exports over a certain period, indicating the net exports of goods and services.

Trade Balance

The difference between a country's exports and imports of goods and services, indicating whether a country has a trade surplus or deficit.

Negative

A condition or quantity less than zero or a loss or deficit in context.

Opportunity Cost

The value of the best alternative foregone as a result of choosing a particular action or decision.