In 2014, Country a Has Net Taxes of $30 Million

question 126

Multiple Choice

In 2014, Country A has net taxes of $30 million and government expenditures of $35 million. Private saving in Country A is $5 million and consumption expenditure is $80 million. The government of Country A is running a budget ________ and national saving is ________.

• A)surplus; $5 million
• B)deficit; -$5 million
• C)deficit; $5 million
• D)surplus; $25 million
• E)deficit; zero

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Definitions:

Sigmund Freud

An Austrian neurologist known as the founding father of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychotherapist.

Critical Thinking

The objective analysis and evaluation of an issue in order to form a judgment.

Vague Recollection

A memory that is not clear or detailed but is rather indistinct or fuzzy.

Empirical Evidence

Information acquired by observation or experimentation that is used to confirm or disprove a hypothesis or theory.