The answer is: United States would have a deficit of $11 billion in the given year.
A trade surplus occurs when a country exports more than it imports. On the other hand, a deficit is when a country imports more products than it exports.
In the above example, the United States is exporting only $5 billion of goods but importing $16 billion of products. This means that the total trade deficit in the example is 16-5 = $11 billion.
This actually represents the current situation of the United States where it has a significant trade deficit with many major economies in the world, most noticeably with China.
The main goal of the creation of the federal budget is to decide how to manage the government’s tax revenue and expenditures. Therefore, the correct answer is c.
The federal budget is made of the spending and revenues of the government. It is a detailed plan towards the annual public revenue and spending of the United States Federal government.
<h2>Further Explanation</h2>
The US federal governments used the federal budget to funds or finance its many expenses such as
- Payment of the salaries of federal employees
- Payment for the equipment of the military
- Dispersing subsidies on agriculture
The fiscal year of the Federal government starts on October 1 and ends on September 30 of the following year.
The revenue for the federal government of the United States comes from tax revenues.
The tax revenues are those on the following:
- Family incomes
- Custom duties
- Tariff
- Business profits
Some of the activities that the government also imposed the use of taxes include
- Cigarette smoking
- Alcohol consumption
- Gasoline
However, there US federal budget contains 2 kinds of spending, which are
- Mandatory spending
- Discretionary spending
Mandatory spending is federal government spending on particular programs that are mandated by law.
These programs include
- Medicare
- Social security
- Medicaid
Mandatory spending is also called as entitlement spending.
Discretionary spending is spending that are approved by the passage of individual appropriation bills.
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KEYWORDS:
- budget
- federal
- businesses
- tax
- government
- spending
- revenue
Pattern and rhythm
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Answer:
Liberia
Explanation:
The name Monrovia was in honor of President James Monroe who had procured more U.S. Government money for the project.
The Government regulate natural monopolies by <u>A.) ensuring and overseeing one supplier</u>, because a natural monopoly occurs when in an industry the fixed costs are too higher, so is very difficult that more than one business start activities in that industry, for that reason <u>only can exist one competitor or one supplier</u>, as an example of that are the public utilities as water or electricity.
Moreover, due to in the natural monopolies don't exist competitors in the same industry, the suppliers in those monopolies could abuse of their advantage and their market position by establishing higher costs to customers, <u>so with the purpose to prevent that possible unjust actions, the Government regulate the natural monopolies by ensuring and supervising constantly to the only supplier of an specific industry.</u>
