Suppose the Only Revenue Taken in by the Government Is

question 95

Multiple Choice

Suppose the only revenue taken in by the government is in the form of income tax, and the tax rate is 10 percent. If aggregate income is $800 billion, and government outlays are $100 billion, then the government budget has

• A) a deficit of $20 billion.
• B) a surplus of $20 billion.
• C) neither a surplus nor a deficit.
• D) a deficit of $80 billion.

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Definitions:

Self-Esteem

An individual's subjective evaluation of their own worth, encompassing beliefs about oneself as well as emotional states.

China

A country in East Asia, the world's most populous nation, with a rich history, culture, and rapidly growing economy.

U.S.

Refers to the United States, a country located primarily in North America comprising 50 states and a federal district.

Need to Belong

An inherent human drive to seek connections and acceptance within social groups.