Scenario 13-3

question 295

Multiple Choice

Scenario 13-3. Assume the following information for an imaginary, open economy.
Consumption = $1,000; investment = $300; net exports = $100;
taxes = $230; private saving = $200; and national saving = $150.
-Refer to Scenario 13-3. This economy's government is running a

• A)budget deficit of $50.
• B)budget deficit of $80.
• C)budget surplus of $50.
• D)budget surplus of $80.

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Definitions:

Pay Stub

A document provided to an employee with each paycheck that details the wages earned for the pay period and the year-to-date, including taxes and other deductions.

Private Carrier

A company or individual that offers transportation services not to the general public but under specific contracts or agreements.

Reasonable Care

The degree of caution and concern an ordinarily prudent and rational person would use in similar circumstances.

Parcel

A piece of land, property, or object that is to be delivered or considered as a unit.