Norms Are Created by People, So They Tend to Be

question 31

True/False

Norms are created by people, so they tend to be objective in nature and universal in their use by different societies.

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Definitions:

Tax Revenue

The revenue collected by governments from taxes, which finances public services and government commitments.

Treasury Bonds

Treasury bonds are long-term government debt securities issued by the Department of the Treasury with a maturity of more than ten years.

Federal Budget

The government's estimate of revenue and expenditure for a forthcoming fiscal year.

GDP Gap

The amount of production by which potential GDP exceeds actual GDP.