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.

Answer 1

Answer:

II. The Federal Government spends more than it collects in taxes in a given year.

Explanation:

A federal budget deficit is when government spending exceeds income from taxes.

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