Explain the Differences Between a Federal Budget Deficit,a Federal Budget

question 63

Essay

Explain the differences between a federal budget deficit,a federal budget surplus,and the federal government debt.

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Definitions:

Cognitive Processes

The mental actions or processes involved in acquiring knowledge and understanding through thought, experience, and the senses.

Emotional Components

The aspects of emotions, including physiological arousal, expressive behaviors, and subjective feelings, that together constitute emotional experiences.

Biological Processes

Natural operations or functions related to living organisms and their components.

Construct

An intellectual hypothesis that we devise and use to interpret or explain life events. Constructs are bipolar, or dichotomous, such as tall versus short or honest versus dishonest.