Suppose the Only Revenue Taken in by the Government Is

question 95

Multiple Choice

Suppose the only revenue taken in by the government is in the form of income tax, and the tax rate is 10 percent. If aggregate income is $800 billion, and government outlays are $100 billion, then the government budget has

• A) a deficit of $20 billion.
• B) a surplus of $20 billion.
• C) neither a surplus nor a deficit.
• D) a deficit of $80 billion.

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Definitions:

Sociologists

Are social scientists who study the development, structure, and functioning of human society and the dynamics of social relationships and institutions.

Entertainment

Activities, performances, or products designed to amuse, delight, or engage people, ranging from music and films to sports and games.

Social Hierarchy

The arrangement of individuals or groups in a society based on status, power, wealth, or some other criteria.

Native Americans

Indigenous peoples of the United States, including various tribes, communities, and nations who were the original inhabitants of the land.