If the federal government has a budget deficit, then it is definitely the case that
A) the tax revenue exceed government outlays.
B) the tax revenue and government outlays are equal.
C) the tax revenue is falling and government outlays are rising.
D) government outlays exceed tax revenue.
E) the tax revenue is rising and government outlays are falling.
D
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An increase in the nation's capital stock will
A) shift the PPF outward. B) cause a movement along the PPF up and to the left. C) cause a movement along the PPF down and to the right. D) move the nation from producing within the PPF to producing at a point closer to the PPF.
The predictive accuracy of relative purchasing power parity improves if:
a. Both countries have highly mobile capital markets. b. Both countries have central bank controls in place so that exchange rates change in an orderly manner. c. Both countries under consideration have high growth rates. d. Both countries are either developed or undeveloped (i.e., one is not developed and the other undeveloped). e. You only are predicting the qualitative change in exchange rates and not the specific exchange rate or quantitative change in the exchange rate.