Which of the Following Descriptions of the "Government Deficit" Is

question 24

Multiple Choice

Which of the following descriptions of the "government deficit" is incorrect?

• A) A deficit occurs when spending is greater than revenue.
• B) The deficit is caused by a shortage of tax revenue.
• C) A deficit is the difference between federal spending and revenues.
• D) The deficit is the annual change in the national debt.

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Definitions:

Careful Decision Making

The process of making choices by considering various possible outcomes, implications, and carefully evaluating alternatives.

Controlled Processing

The mental activity that requires deliberate, conscious attention and effort, as opposed to automatic processes that require minimal awareness.

Social Loafing

The tendency of individuals to exert less effort on a task when working in a group compared to when working alone.

Contributions

Acts or offerings that aid in advancing a cause or improving a situation, often involving time, money, or effort towards a collective goal.