If the federal government has a budget surplus, then it is definitely

Jun 16th, 2016
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Question 1) The federal budget A) is required to balance by law. B) can have a surplus but not a deficit. C) can have a deficit but not a surplus. D) can have a deficit or a surplus but cannot be balanced. E) can have a deficit, a surplus, or a balance 2) If the federal government has a budget surplus, then it is definitely the case that A) tax revenue exceeds government outlays. B) 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. 3) The national debt is the amount A) by which government tax revenue exceed outlays in a given year. B) of debt outstanding that arises from past budget deficits. C) by which government outlays exceed tax revenue in a given year. D) of government outlays summed over time. E) of all future entitlement spending. 4) In order to help the economy recover from a recession using fis

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35 ECONOMICS MCQSQuestion1) The federal budgetA) is required to balance by law.B) can have a surplus but not a deficit.C) can have a deficit but not a surplus.D) can have a deficit or a surplus but cannot be balanced.E) can have a deficit, a surplus, or a balance2) If the federal government has a budget surplus, then it is definitely the case thatA) tax revenue exceeds government outlays.B) 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.3) The national debt is the amountA) by which government tax revenue exceed outlays in a given year.B) of debt outstanding that arises from past budget deficits.C) by which government outlays exceed tax revenue in a given year.D) of government outlays summed over time.E) of all future entitlement spending.4) In order to help the economy recover from a recession using fiscal policy, the government can________ so that aggregate demand increases.A) cut taxesB) raise taxesC) cut government expenditure on goods and servicesD) raise interest ratesE) decrease the quantity of money5) To eliminate a recessionary gap, the government can ________ government expenditures ongoods and services or ________ taxes.A) increase; increaseB) increase; decreaseC) decrease; increaseD) decrease; decreaseE) increase; not change6) Automatic stabilizers are defined asA

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