Budget Deficits Quiz 1 (13 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. Budget includes

Correct Answer: D) Both.

2. When legislators trade votes on legislation

Correct Answer: D) Log-rolling.

3. Which of the following will increase the national debt?

Correct Answer: A) A budget deficit.

4. Legislation that bundles together a number of projects each benefiting local interest at the expense of taxpayers or consumers

Correct Answer: A) Pork-Barrel.

5. FISCAL DEFICIT=? when, BE=Budget Expenditure, BR=Budget Receipts

Correct Answer: D) NONE OF THE ABOVE.

6. Revenue expenditure=? when, RE=REVENUE EXPENDITURERR=REVENUE RECEIPT

Correct Answer: A) RE-RR.

7. The cumulative effect of all past budget deficits and surpluses of the federal gov't

Correct Answer: B) Debt.

8. Which of the following are the types of budget deficit

Correct Answer: B) Primary, Fiscal and Revenue.

9. What is budget deficit

Correct Answer: A) Expenditure > receipts.

10. Primary Deficit =

Correct Answer: A) Fiscal deficit-Interest payment.

11. ..... is an issue that benefits a small group at the expense of taxpayers or consumers

Correct Answer: C) Special-Interest.

12. Gov't spending that exceeds revenues

Correct Answer: A) Budget Deficit.

13. Budget deficit is also known as

Correct Answer: C) Government deficit.