Suppose That U

question 177

Multiple Choice

Suppose that U.S. debt is $7 trillion at the beginning of the fiscal year. During the fiscal year, its purchases of goods and services and its transfers are $2 trillion, and tax revenues are $1.5 trillion. At the end of the fiscal year, the debt is:

• A)$10.5 trillion.
• B)$6.5 trillion.
• C)$9 trillion.
• D)$7.5 trillion.

Understand the core values and ethical principles in social work as identified by professional associations.

Recognize ethical dilemmas in social work and identify strategies for their resolution.

Understand the ethical responsibilities of social workers to their clients as outlined in professional codes.

Analyze the distribution of limited resources as an ethical problem in social work.

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Definitions:

Capital

Assets used in the production of goods and services, such as machinery, buildings, or tools.

Production Efficiency

A situation where the economy is utilizing all of its resources efficiently, producing what people want at the lowest possible cost.

Production Possibility Frontier

Describes the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized.

Unemployment Rate

The percentage of the labor force that is jobless and actively looking for employment.