Eco Final Exam

Last update by dawn.devmann on 07/07/2013
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When government spending exceeds tax revenues during a specific time period, this is known as a


Answer:

government budget deficit.

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  • dawn devmann
    Answered in Eco Final Exam

    Suppose that the federal government had a budget deficit of $80 billion in year 1 and $10 billion in year 2, but it had budget surpluses of $140 billion in year 3 and $20 billion in year 4. Also assume that the government uses any budget surpluses to pay down the public debt. At the end of these four years, the Federal government's public debt would have

    .

    Correct Answer:

    decreased by $70 billion.

  • dawn devmann
    Answered in Eco Final Exam

    What is true about government budget deficits and surpluses since 1940?


    Correct Answer:

    There have been more government budget deficits than government budget surpluses.

  • dawn devmann
    Answered in Eco Final Exam

    Net public debt is the



    Correct Answer:

    sum of accumulated government deficits and surpluses held by individuals and businesses and foreign institutions.

Eco Final Exam
Eco Final Exam
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