When Government Spending Is Less Than Net Taxes

question 108

Multiple Choice

When government spending is less than net taxes:

• A)there is a budget deficit.
• B)government savings is negative.
• C)there is budget surplus.
• D)the economy is moving toward a balanced budget.

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Definitions:

Culture

The shared beliefs, values, norms, and practices that characterize a group of people, shaping their behavior and understanding of the world.

Symbols

Visual, verbal, or written signs or objects that represent or stand for something else, often conveying ideas, concepts, or values.

Beliefs

Acceptance by the mind that something is true or real, often underpinned by an emotional or spiritual sense of certainty.

Norms

Established standards of behavior or guidelines that are considered normal within a group or society.