A federal budget surplus occurs when government expenditures exceed tax revenues.
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Q4: A tax rate increase always leads to
Q5: A value-added tax (VAT)is a less visible
Q6: According to Keynesian theory,a recessionary gap can
Q7: A permanent marginal tax rate cut would
Q8: Crowding out results when an increase in
Q10: A structural deficit refers to that part
Q11: The transmission lag is the period that
Q12: With a progressive income tax,as taxable income
Q13: When the government decides to increase income
Q14: The distinctive feature of a progressive tax
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