If Tax Revenues Equal 20 Percent of Total Output and Government

question 39

Multiple Choice

If tax revenues equal 20 percent of total output and government expenditures equal 25 percent of total output, then there is a:

• A)government budget surplus.
• B)trade surplus.
• C)government budget deficit.
• D)trade deficit.

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Observable Data

Information that can be measured or noted through direct observation or experience.

Dynamic

Pertaining to a system or process characterized by constant change, activity, or progress.

Pluralistic Societies

Societies characterized by the coexistence of diverse groups, cultures, or individuals with varying beliefs and practices, often in a state of mutual respect.

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