If the Federal Government's Expenditures Are Less Than Its Tax

question 78

Multiple Choice

If the federal government's expenditures are less than its tax revenues,then

• A)a budget surplus results.
• B)a budget deficit results.
• C)the budget is balanced.
• D)No conclusion can be drawn here regarding the budget surplus or deficit without information regarding government purchases versus other outlays.

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Definitions:

Legality

The state of being in accordance with the law; legality refers to conformity with statutes and regulations.

Consideration

In contract law, something of value exchanged between parties that is essential for a valid and enforceable contract.

Public Officials

Individuals elected or appointed to carry out governmental duties and responsibilities.

Give Consideration

To provide something of value such as money, goods, or services as part of a contract or agreement.