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When government pay out more money than it is taking in it is called?
A deficit
Why did congress lack the money it needed to pay off the government's war debt?
Congress lacked the money it needed to pay off the government's war debt because of an unbalanced budget. Congress can continue to pay for or extend a war without actually having the money to directly fund it.
What level of government uses money collected from taxes to pay for fire and police protection?
Usually local government.
How did the government pay for the war efforts?
The government raised taxes higher and borrowed money from banks and others to get the rest.
How does government pay for the goods and services that it provides to the public?
If you mean who pays for the government, then it is the taxpayers money. All the money that you pay in government fees, road tolls, rates and taxes all go to the government.
In what way are bondholders and banks similar?
In effect, these are both instances of an institution taking a loan from an individual. When you put your money into a bank, you are in essence loaning your money to the bank. They pay you interest on the money, and then they loan it out at a higher interest rate and keep the difference. Likewise, when you take out a bond you are in effect loaning your money to the government, which will pay you back with interest at a later time.
Why is Denmark not loaning the money Iceland is asking for?
maybe they are afraid that Iceland will not pay back
What do banks with some of the profits they make by loaning out the money?
pay interest on savings accounts
What do banks do with some of the profits they make loaning out the money in their customers saving accounts?
pay interest on savings accounts
How bank create money?
Money is CREATED by governments, not banks. They store money. Banks also EARN money by loaning money to people. People pay the banks back more money than they borrow (interest)
What do banks do with some of the profits they make by loaning out the money in their customers' savings accounts?
Pay interest on deposits, use it for their operational expenditure, to pay salaries to its employees etc. Pay interest on savings accounts
Why are banks willing to pay interest on their customers deposits?
Banks are willing to pay interest, because they are turning around and loaning that money out to other people for more interest. They still make money on the deal, and offering interest often attracts customers with larger stacks of money.
When the government borrows money it must pay this?
Interest on the money
Where does the money to pay postal workers come from?
The money to pay postal workers come from the taxes collected by the government. This is part of the government expenditure.
Where does USOC get money to pay medalists?
government
What does Usury mean?
As a general definition, usury is loaning money at extravagant interest rates. The legal definition varies. The practiced of lending money to people, especially making them pay unfairly high rates of interest.
What is meant by the phrase My Cash Now?
My Cash Now is the name of a loaning company. The phrase means you get the money you loan quickly, without much hassle. Ofcourse the money isn't really yours, you still have to pay it back.
