Refer to the Diagram, in Which T Is Tax Revenues

question 184

Multiple Choice

Refer to the diagram, in which T is tax revenues and G is government expenditures. All figures are in billions. If GDP is $400,

• A) there will be a budget deficit.
• B) there will be a budget surplus.
• C) the budget will be balanced.
• D) the macroeconomy will necessarily be in equilibrium.

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Definitions:

Task Group

A collection of individuals assembled to perform a specific set of tasks or achieve certain objectives.

Standing Committees

Permanent committees established under the rules of a legislative body, organization, or society to consider matters of a certain type.

Skills

The ability to do something well, often gained through training or experience.

At Ease

A state of comfort, relaxation, and freedom from worry or awkwardness.