The federal debt is ____________ and the federal deficit is ______________.
A) the cumulative total of what the federal government owes; the amount the federal government overspent in a given year
B) the amount the federal government overspent in a year; the cumulative total of what the federal government owes
C) the total of what is projected to be spent in a given year; the total of what is projected to be earned in revenues in a given year
D) None of these statements is true.
Correct Answer:
Verified
Q146: Deficits and surpluses are commonly calculated as:
A)debt
Q146: Instead of trying to balance the budget
Q147: If the federal government brings in $3
Q147: When a government earns more than it
Q148: It is difficult to balance the budget
Q150: Higher income countries tend to collect _
Q152: An example of entitlement spending is:
A) national
Q154: A helpful way to put government revenues
Q156: During a time of an economic downturn,it
Q158: When a government spends more than it
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