If the total of government spending plus government transfer payments is less than tax revenues, which of the following must be true?ResponsesThe national debt will increase.The national debt will increase.There is a recessionary gap.There is a recessionary gap.The government budget is in surplus.The government budget is in surplus.The velocity of money will increase.The velocity of money will increase.The money multiplier will increase.

Suppose that in 2017 government outlays exceeded tax revenues. An increase in government purchases in 2018, with no other budgetary changes, would lead to which of the following from 2017 to 2018 ?ResponsesAn increase in the government budget surplusAn increase in the government budget surplusA decrease in the government budget surplusA decrease in the government budget surplusAn increase in the government budget deficitAn increase in the government budget deficitA decrease in the government budget deficitA decrease in the government budget deficitA decrease in the national debt

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.

If net tax revenues exceed government spending, which of the following would describe the government's situation?Multiple choice question.It has a positive balance which means there is a budget surplus.It has a positive balance which means there is a budget deficit.It has a negative balance which means there is a budget surplus.It has a negative balance which means there is a budget deficit.

Which kind of budget would cause the largest increase in a country's national debt?A.One that decreases taxes and decreases spendingB.One that decreases taxes and increases spendingC.One that increases taxes and increases spendingD.One that increases taxes and decreases spending

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.