A Balanced Budget Occurs When

question 18

Multiple Choice

A balanced budget occurs when

• A) the national debt is reduced to zero dollars.
• B) a budget deficit during one year is matched by a budget surplus in the next year.
• C) transfer payments equal tax revenues.
• D) government expenditures equal tax revenues.
• E) the deficit-GDP ratio equals one.

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Definitions:

External Locus of Control

A belief system where individuals perceive their successes or failures as influenced by external forces beyond their control.

Decremental

Characterized by a gradual reduction or decrease in size, magnitude, or quality over time.

Internal Locus of Control

The belief that one has control over their own life and outcomes, as opposed to external forces having that control.

Personality Factors

Traits and attributes that constitute an individual's distinct character.