When tax revenue exceed the government's outlays, the budget
A) has a deficit and the national debt is increasing.
B) is balanced and the national debt is decreasing.
C) has a surplus and the national debt is decreasing.
D) has a surplus and the national debt is increasing.
E) None of the above because by law tax revenue cannot exceed the government's expenditures.
C
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The demand curve in its home market is P = 200 - Q; the demand curve in its foreign market is P = 160 - 2Q; and its marginal cost is a constant $20 per unit. What is the discriminating monopolist's profit maximizing output in the foreign market?
a. 90 b. 110 c. 70 d. 35
Which of the following is included in the government expenditure component of the expenditure approach to GDP?
A) state government expenditure on local schools B) transfer payments C) changes in inventories D) taxes