Question

Which of the following is a consequence of a country running fiscal deficits? Lower balance of trade Higher trade deficits Higher national debt Less innovation

Lower balance of trade

Higher trade deficits

Higher national debt

Less innovation when we talk about the Rust Belt that stretches across parts of the Midwest and Northeast in the US, the description comes from the fact that cities and towns tend to have problems with: Frictional unemployment Structural unemployment Cyclical unemployment Seasonal unemployment When a COMPANY brings in more money in revenues than it pays out in expenses, this money left over is called: Profit Net Income Earnings All of the above

Answer 1

Q1.

Which of the following is a consequence of a country running fiscal deficits?

Increase in national debt. Budget deficit is the difference between tax receipts and government expenditure. If the tax receipts exceed government expenditure, then there is surplus and if the tax receipts are less than the expenditure there is budget deficit. The government will then resort to borrowing to make up for the deficit which results in national debt.

Q2.when we talk about the Rust Belt that stretches across parts of the Midwest and Northeast in the US, the description comes from the fact that cities and towns tend to have problems with:

Structural unemployment. Structural unemployment happens when there is a mismatch between the skills required due to changes in technology, jobs moving overseas, and the skills available in the present workers. Detroit's economic development declined due to international competition in cars from Japan, South Korea, Germany and other countries.

Q.3 When a COMPANY brings in more money in revenues than it pays out in expenses, this money left over is called:

Net income.

Revenue is associated with the line of business the company is engaged in, in other words, it is the sales. Expenses is the cost associates with the cost of doing the business like depreciation, interest, taxes etc. The difference between the two is the net income.