The Annual Negative Imbalance Between Revenues and Expenditures of the U.S

question 9

Multiple Choice

The annual negative imbalance between revenues and expenditures of the U.S. government, or when the government spends more than it collects in any given year, is called

• A) a federal deficit.
• B) the national debt.
• C) national income accounting.
• D) the trade deficit.

---

Definitions:

Assessed Valuation

The dollar value assigned to a property by a public tax assessor for the purposes of taxation.

Tax Rate

The percentage at which an individual or corporation is taxed.

Valuation Rate

A rate used to determine the current or projected worth of an asset or a company.

Market Value

The current price at which an asset or service can be bought or sold in the marketplace.