If the federal government balanced its budget, its tax revenues would be equal to government expenditures.
Answer the following statement true (T) or false (F)
True
The federal government budget surplus (deficit) is equal to tax revenues minus government expenditures. If tax revenues and government expenditures are equal, the budget is balanced.
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Total expenditures for new final goods equals total output of new final goods in the income and product accounts
A) because no one will produce what cannot be sold. B) because prices will rise or fall to clear the market. C) because unsold goods are assumed to be purchased by the firms that produced them. D) only at equilibrium. E) when all goods are sold in the year they are produced.
Students can change the direction of the greater society through volunteering and other forms of involvement. They are also subject to the greater economy and environment. In the 1990s, college students, for the most part:
a. Enjoyed a strong economy with multiple job choices and a technology explosion. b. Flooded into social work and helping others professions c. Questioned authority and dealt with years of unrest and change d. Conformed and were very conservative, held traditional values