Suppose that the government's total tax receipts are $334, government spending on goods and services is $549 and transfer payments are $120. What is the government' budget surplus or deficit? Ignore the $ sign.

The Borrowings of the Government and the fiscal deficit are $30,000 Is this situation true or false?

Which of the following is NOT a component of federal fiscal policy?   A. Federal tax revenues   B. Federal government expenditures   C. Federal budget deficit   D. All of the above are components of federal fiscal policy

Problems with the federal government budget process include: a. budgeting that increases the flexibility of discretionary fiscal policy. b. most of the expenditures being for entitlement programs. c. budgeting that allows the President too much discretion in spending decisions. d. a budget outline that needs to be approved with at least a two-thirds majority vote. e. a brief budgeting that does not allow Congress to study whether the budget is an appropriate tool for fiscal policy.

The largest single portion of the federal budget is devoted to A. interest payments on the national debt.B. national defense.C. Medicare and Medicaid.D. education.E. Social Security and unemployment compensation.

How should the government execute Fiscal Policy?

11. Study Questions and Problems #11 Suppose you are the economic policy adviser to the president and are asked what should be done to eliminate a federal deficit. You would recommend to government spending and taxes.

What is the relationship between the government deficit and debt? Why is it essential that governments make the payments on their debts?

Which of the following statements about state budget is wrong? a. Budget may be annual or biennial b. About half of the states have dual budget system - operating budget and capital budget c. Most operate under the balanced budget requirement d. All governors have item veto power

When the total revenues in the federal government are greater than the total expenses in a given year, the budget: A. is balanced. B. has a profit. C. has a deficit. D. has a surplus.