Understanding Government Debt and Deficits

Understanding Government Debt and Deficits

Assessment

Interactive Video

Social Studies

9th - 10th Grade

Hard

Created by

Patricia Brown

FREE Resource

Professor James Strickler discusses government debt, focusing on the deficit, national debt, and unfunded liabilities. The lesson explains how voters influence public policy, leading to overspending and increasing debt. The deficit is the annual shortfall, while the national debt is the cumulative total. Unfunded liabilities are future obligations without set-aside funds. The lesson highlights the economic impact and challenges of managing these financial issues.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary focus of this lesson on government debt?

The role of voters in government spending

The impact of taxes on public policy

The concepts of deficit, debt, and unfunded liabilities

The history of American government

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is a deficit defined in terms of government finances?

The total amount of money owed by the government

The difference between expenditures and revenues in a year

The amount of money saved by the government

The total revenue collected by the government

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean when politicians claim to have 'cut the deficit'?

The government has eliminated all debt

The government is spending less than its revenue

The government is still overspending but by a smaller margin

The government has increased its revenue

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the national debt?

The obligations without funds

The total amount of money owed to other countries

The sum of all yearly deficits and surpluses

The total production of goods and services in a year

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How has the national debt changed from 2002 to the present?

It has been completely paid off

It has increased dramatically

It has decreased significantly

It has remained stable

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the red line on the national debt graph represent?

The total amount of debt in dollars

The percentage of GDP required to pay off the debt

The number of years to pay off the debt

The total revenue collected by the government

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an unfunded liability?

A debt that has been fully paid

A type of government revenue

A future obligation without funds set aside

A surplus in government finances

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