A Government Is Running a Budget Deficit If

question 126

Multiple Choice

A government is running a budget deficit if:

• A)government revenue exceeds government spending.
• B)government revenue is less than government spending.
• C)exports exceed imports.
• D)imports exceed exports.

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Definitions:

Out-Of-Pocket Costs

Expenses that are paid directly out of one’s finances and are not reimbursed.

Copayments

A fixed amount paid by a patient each time a medical service is accessed, with the remainder covered by health insurance.

Deductibles

Deductibles are the amount an insurance policyholder must pay out-of-pocket before the insurance coverage begins to pay for covered losses.

Out-Of-Pocket

Expenses that are paid directly in cash or cash equivalents during a transaction, without any form of credit.