When government expenditures are greater than tax revenues
A) there will be budget surplus. B) the public debt will be reduced.
C) there will be budget deficit. D) automatic stabilizers do not kick in.
C
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If each bank in the United States had to keep 100 percent of checkable deposits as reserves, each $1 the Fed injected into new reserves could increase the money supply by: a. $1
b. $2. c. $100. d. $5. e. a penny.
At a price of $5, Sam buys 10 units of a product; when the price increases to $6, Sam buys 8 units. Martha says Sam's demand has decreased. Is Martha correct?
A. Yes, Martha is correct. Sam's demand has decreased. B. No, Martha is incorrect. Sam's demand has increased. C. No, Martha is incorrect. Sam's quantity demanded has decreased, and his demand has not changed. D. No, Martha is incorrect. Sam's quantity demanded has increased, and his demand has increased.