When a Government Spends More Than It Earns in Revenue,we

question 66

Multiple Choice

When a government spends more than it earns in revenue,we say that it has a:

• A)budget deficit.
• B)budget surplus.
• C)budget crisis.
• D)federal debt.

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Definitions:

Article of Partnership

A written agreement that outlines the terms, conditions, and responsibilities of each partner in a partnership.

Partnership Contract

A legal agreement between two or more parties who wish to manage and operate a business together in order to share its profits.

Public Corporations

Companies owned by the government that operate with the aim of serving the public interest and often have publicly traded shares.

Divested Corporations

Companies that have sold or disposed of a business unit or division to refocus their operations or strategies.