U.S. national debt _______ when the federal government's _______
A. increases; outlays exceed tax revenue
B. decreases; outlays exceed tax revenue
C. increases; tax revenue rises faster than outlays
D. decreases; tax revenue rises faster than outlays
A The national debt increases whenever the government's out-lays exceeds its tax revenues.
You might also like to view...
Claire and Dag are farmers who produce beef and corn. In a year, Claire can produce 16 tons of beef or 40 bushels of corn, while Dag can produce 5 tons of beef or 25 bushels of corn. The opportunity cost of producing a ton of beef is
A) 10 bushels of corn for Dag and 8 bushels of corn for Claire. B) 5 bushels of corn for Dag and 2.5 bushels of corn for Claire. C) 20 bushels of corn for Dag and 50 bushels of corn for Claire. D) 36.5 days for Dag and 45.6 days for Claire.
An increase in the unemployment rate which is accompanied by a decrease in the inflation rate is represented by a ________ the Phillips curve
A) movement down B) movement up C) upward shift of D) downward shift of