All of the Following About the U

question 31

Multiple Choice

All of the following about the U.S. deficit is true EXCEPT

• A) Running a deficit-bringing in less than is spent-can be beneficial in the short run as it allows the government to borrow money to help stimulate the economy.
• B) Unlike the national government, most state governments do not have the ability to continually run a large annual deficit.
• C) The size of the national debt could slow national economic growth because it diverts money that could be spend on private sector activities.
• D) In 2014, the national government will spend about $230 billion in interest on a national debt that is about $17.5 trillion.
• E) The term national debt refers to the gap between income and expenditures run by the federal government.

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Definitions:

Hierarchical Power-Sharing

A system of governance or organizational structure where power and authority are distributed according to levels of hierarchy but are shared among different ranks.

Prejudice

A preconceived opinion or judgment about someone or something that is not based on reason or actual experience, often negatively biased.

Gig Economy

A labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs, often facilitated by digital platforms.

Precariat Class

A social class formed by people suffering from precarity, which entails living without predictability or security, especially in employment.