What is the difference between the national debt and national deficit?
A. The deficit is how much more the government makes every year while the debt is the sum of these deficits every year
B. The deficit is how much more the government spent than brought in in one year while the debt is the sum of deficits over years.
C. The debt is how much more the government makes every year while the deficit is the sum of these debts every year*
If the government wants to limit citizens buying a specific type of product like cigarettes, they can implement this on the product...
A. Excise Tax
B. Sanctions
C. Income Tax*
https://www.investopedia.com/updates/usa-national-debt/
and
http://www.investorwords.com/3201/National_Deficit.html
#2 is incorrect.
To answer the first question, the correct answer is B. The deficit is how much more the government spent than it brought in within one year, while the debt is the accumulation of deficits over time. The deficit is an annual measurement showing the difference between the government's income (revenue) and its expenses (expenditures). If the government spends more than it brings in through taxes and other sources of revenue in a particular year, it results in a deficit. The debt, on the other hand, is the total cumulative amount of money that the government owes due to past deficits.
For the second question, the correct answer is C. Income Tax. If the government wants to limit citizens from buying a specific type of product like cigarettes, they typically use measures like imposing higher taxes on those products. In this case, it would be considered an action related to income tax, as higher taxes are introduced to discourage or limit the purchase of the specific product.