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As Sonya was waiting for her physics class to begin, she got a text from her older sister telling her that she just got engaged. Sonya was thrilled to hear the news and texted her sister back, saying she'd call her after class. During class, Sonya had difficulty paying attention because all she could think about was the upcoming wedding. Before she realized it, the class was over, and as her classmates began filing out of the room, she realized she had no idea what the instructor talked about during class. With the midterm exam only a week away, Sonya fears that she might have missed something important while thinking about her sister's wedding. What should Sonya do?
Federal Budget Deficit
The amount by which a government's expenditures exceed its tax revenues over a specific fiscal period, leading to borrowing or debt accumulation.
Economic Growth
Growth in the inflation-corrected value of goods and services that an economy outputs over time.
Social Security
The U.S. social insurance program financed by a federal payroll tax that provides disability, retirement, and death benefits.
National Debt
The total amount of money that a country's government has borrowed, by various means, to finance its spending that exceeds tax revenues.
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