If the federal government runs a
If the federal government runs a surplus
a) expenitures exceed taxes
b) receipts exceed disbursements
c) debt must be issued
d) the federal reserve buys bonds
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if the federal government runs a surplusa expenitures exceed taxesb receipts exceed disbursementsc debt must be issuedd
treasury bills area long-term securities issued by the federal governmentb short-term securities issued by the federal
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