What is the most likely result of new U.S. government programs beginning without any budget to pay for them?
(1 point)
Responses
Citizens in the future will have fewer services or higher taxes.
Citizens in the future will have fewer services or higher taxes.
Politicians will have less chance of being re-elected to office.
Politicians will have less chance of being re-elected to office.
Americans will offer to pay higher taxes to balance the budget.
Americans will offer to pay higher taxes to balance the budget.
Goods and services will continue to become more expensive.
Citizens in the future will have fewer services or higher taxes.
What is the best definition of gross domestic product, or GDP?
(1 point)
Responses
money paid to the government in taxes to support public goods and services
money paid to the government in taxes to support public goods and services
the value of all goods and services produced within domestic borders
the value of all goods and services produced within domestic borders
the value of exports minus the total value of imports
the value of exports minus the total value of imports
a period of decline in overall income and employment
The value of all goods and services produced within domestic borders.
In a circular flow diagram, what flows from households to businesses?
(1 point)
Responses
income
income
land
land
expenditures
expenditures
goods
Expenditures.
What does a rise in per capita GDP indicate?
(1 point)
Responses
increased productivity
increased productivity
better trade deals
better trade deals
more bank loans
more bank loans
increased population
increased population