Refer to the Following Figure When Answering the Following Questions

question 33

Multiple Choice

Refer to the following figure when answering the following questions.
Figure 18.1: Federal Government Receipts and Outlays, 1990-2012 (Source: Federal Reserve Economic Data, St. Louis Federal Reserve)
-Consider Figure 18.1. The federal government ran a surplus during the period:

• A) 1990-1993.
• B) 1993-1997.
• C) 1998-2002.
• D) 2002-2006.
• E) Not enough information is given.

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Definitions:

Maturities

The dates on which financial obligations or debt instruments (such as bonds, loans, or other forms of securities) are due to be paid off.

Unfunded Liabilities

Obligations for which sufficient assets have not been set aside and are not currently funded by investment.

Notes

Short for promissory notes, these are debt instruments whereby one party promises in writing to pay a determinate sum of money to the other at a specified date or upon demand.

Ask Price

The lowest price a seller is willing to accept for a security or commodity.