In the current year, a nation's government spending equals $100 trillion and its revenues are $130 trillion. Which of the following is TRUE?
A) The nation's national debt equals $30 trillion.
B) This nation has a current year budget surplus of $30 trillion.
C) This nation is currently running a budget deficit of $30 trillion.
D) This nation has a current year budget surplus of $230 trillion.
Correct Answer:
Verified
Q2: Other things being equal, during a period
Q3: A federal surplus of $100 billion means
Q4: If the government spends more than it
Q5: When government revenues exceed government outlays in
Q6: Which of the following statements about the
Q8: If the public debt increased by the
Q9: When government spending exceeds government revenues during
Q10: How does the federal government finance a
Q11: If the government spends exactly what it
Q12: If the government spends less than what
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