Explain the differences between a federal budget deficit, a federal budget surplus, and the federal government debt
What will be an ideal response?
A budget deficit refers to a situation in which the government's expenditure is greater than its tax revenue. A budget surplus is a situation in which the government's expenditure is less than its tax revenue. The federal government debt is the total value of U.S. Treasury bonds outstanding.
Economics
You might also like to view...
To reduce adverse selection
A) firms can use screening. B) both consumers and firms can use screening. C) the government could eliminate all monopolies and oligopolies. D) Both B and C.
Economics
A merger between firms that are in the same industry is called a
A) conglomerate merger. B) horizontal merger. C) vertical merger. D) none of the above.
Economics