Suppose the government collected $3.2 trillion in tax revenues and spent $3.8 trillion, and discretionary spending was $1.5 trillion. For the government to fully balance the budget this year, how much discretionary spending needs to be cut?
A) 10%
B) 20%
C) 30%
D) 40%
Correct Answer:
Verified
Q13: Which of the following requires the government
Q14: The fact that it takes a very
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Q16: Which of the following is a critical
Q17: If a government collects $550 billion in
Q18: _ are all examples of discretionary spending.
A)
Q19: Reducing government spending, reducing transfer payments, or
Q20: If the government raises taxes, what will
Q23: Which one of the following is a
Q127: _ government spending, _ transfer payments, and
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