Question

Select all the true statements about the federal budget deficit of 2020.

a. The deficit increased compared to the previous year.
b. The deficit decreased compared to the previous year.
c. The deficit was influenced by economic factors.
d. The deficit had no impact on the national debt.

Answer 1

The federal budget deficit of 2020 increased compared to the previous year and was influenced by economic factors. It also had an impact on the national debt.

Step-by-step explanation:

In 2020, the federal budget deficit increased compared to the previous year. This increase in deficit was influenced by economic factors, such as declining tax revenues and increased safety net expenditures during the pandemic. It is important to note that the deficit does have an impact on the national debt, as debt increases and interest payments rise.