Question

Which of the following is true concerning federal budget deficits?
I. The IRS spends more than it collects in taxes in a given year
. II. The Federal Government spends more than it collects in taxes in a given year.
III. Unemployment is greater than taxes collected in a given year.
a. l only
b. ll only
c.lll only
d. l and 2 only
e. ll and lll only

Answer 1

The answer is B. II Only

IRS doesn't have the authority use Federal Budget , which mean they can't get their spending from taxes, this rule out option I

the amount Taxes is depended on how much income a company or a person has, not their employment status, so option III is ruled out