If a government spends less money than it brings in through taxes in one year, that government has a _____.A.mandatory budgetB.budget surplusC.budget deficitD.discretionary budget

Which situation is most likely to result in a government having a budget deficit for a year?A.A government decides to build an expensive new highway system while also lowering taxes.B.A government cuts funding to income assistance programs for veterans and the elderly.C.A government decides that all its spending programs will be discretionary instead of mandatory.D.A government raises taxes on corporations in an effort to quickly pay off its entire national debt.SUBMITarrow_backPREVIOUS

If the federal​ government's expenditures are less than its tax​ revenues, then: a. a budget deficit results. b. the budget is balanced. c. the government is deficit spending. d. a budget surplus results.

When government spending exceeds tax revenues, what is the term given to the difference?Select the correct answer below:budget deficitbudget surplusnational debtnone of the above

Which situation is most likely to result in a government having a budget surplus for a year?A.A government is forced to spend extra money to help its citizens recover after a natural disaster.B.A government begins providing health care to all citizens using tax money in the federal budget.C.A government shuts down an expensive defense program while increasing taxes on corporations.D.A government lowers taxes on businesses while keeping all its spending at the same level.

Discretionary spending is government spending that:A.is not approved by Congress.B.is not required by law.C.uses up a surplus.D.creates a deficit.SUBMITarrow_backPREVIOUS