Which of the Following Correctly Represents the Budget Deficit

question 70

Multiple Choice

Which of the following correctly represents the budget deficit?

• A) Tax revenue - government purchases
• B) Tax revenue - government outlays
• C) Government purchases - tax revenue
• D) Government outlays - tax revenue
• E) Government outlays - tax revenue - transfer payments.

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Definitions:

Justice

A principle of fairness or moral rightness that dictates the equitable treatment of all individuals within a society.

Accountability

The duty of a person or entity to justify their actions, take accountability for those actions, and reveal the outcomes in a clear way.

Ethical Principle

Fundamental guidelines that help determine the rightness or wrongness of actions within a professional or societal context.

Fidelity

The degree of accuracy and exactness with which something is copied or reproduced, or loyalty and faithfulness to commitments and obligations.