When government outlays exceed tax revenue, the situation is called a budget
A) with a negative balance.
B) deficit.
C) surplus.
D) debt.
E) with no balance.
B
Economics
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Suppose a bank has $100 million in checking account deposits with no excess reserves and the required reserve ratio is 10 percent. If the Federal Reserve reduces the required reserve ratio to 4 percent, then the bank can make a maximum loan of
A) $0. B) $4 million. C) $6 million. D) $10 million.
Economics
An economic variable that is measured per unit of time, such as spending per year, is known as a: a. stock variable
b. periodic variable. c. dummy variable. d. flow variable. e. controlled variable.
Economics