In Order to Maintain a Balanced Budget, Congress Has Decided

question 3

Multiple Choice

In order to maintain a balanced budget, Congress has decided to cut taxes and government spending both by $25 billion.What will happen to GDP?

• A)It will increase.
• B)It will remain the same.
• C)It will decrease.
• D)It's impossible to know without the multiplier.

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Definitions:

Negligence

The absence of the caution a typically careful individual would use in similar circumstances.

Grossly Negligent

Refers to a severe lack of care or action that significantly breaches the duty of care owed to another, resulting in substantial harm or risk.

Financial Irregularities

Unusual or improper financial transactions that may indicate mismanagement, fraud, or violations of regulations.

Contradictory Evidence

Information or data that directly opposes or disputes the claims or findings presented in a specific context.