Sizeable Budget Deficits Can Be Expected in the Years Ahead

question 66

Multiple Choice

Sizeable budget deficits can be expected in the years ahead because

• A)the retirement of the baby boom generation will soon begin to push expenditures on both Social Security and Medicare upward.
• B)the political incentive structure encourages politicians to spend more revenue than they are willing to tax.
• C)both a and b are true.
• D)both a and b are false.Budget surpluses can be expected in the years ahead.

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Definitions:

Insulin Deficiency

A lack of the hormone insulin in the body, which is crucial for regulating blood glucose levels.

Type 1 Diabetes

A chronic condition where the pancreas produces little or no insulin, necessitating insulin administration for management.

Thyrotropin

Another term for thyroid-stimulating hormone (TSH), a hormone secreted by the pituitary gland to regulate the production of thyroid hormones.

Thyroid-Stimulating Hormone

A hormone produced by the pituitary gland that regulates the production of hormones by the thyroid gland.