When the federal government is running a budget deficit:
a. government tax revenues exceed government expenditures.
b. government expenditures exceed government tax revenues.
c. the economy must be in an economic recession.
d. the size of the national debt will decline.
Question 2
Starting from a position of macroeconomic equilibrium at below the full-employment level of real GDP, an increase in the money supply will:
a. raise interest rates, prices, and reduce real GDP.
b. raise interest rates, lower prices, and leave real GDP unchanged.
c. raise interest rates, lower prices, and leave real GDP unchanged.
d. lower interest rates, raise prices, and increase real GDP.
Federal vs state law
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con
If the pump is not running, check the wiring and current flow before going through the process of ...
American Government: Roots and Reform, 2009 Edition
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts, 27th ...