A budget surplus means that:
A. Government expenditures are greater than revenues in a given year
B. Government revenues are greater than expenditures in a given year
C. A nation's exports are greater than its imports
D. A nation's imports are greater than its exports
B. Government revenues are greater than expenditures in a given year
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If the legal reserve requirement is 10 percent, $1,000 cash deposited into a demand deposit account will generate, assuming willing borrowers, an increase in the money supply of
a. $900 b. $1,100 c. $9,000 d. $10,000 e. $11,000
Which of the following is not correct?
a. Deficits give people the opportunity to consume at the expense of their children, but deficits do not require them to do so. b. Deficits and surpluses could be used to avoid fluctuations in the tax rate. c. The only times deficits have increased have been during times of war or economic downturns. d. Reducing the budget deficit rather than funding more education spending could, all things considered, make future generations worse off.