If the tax revenue of the federal government exceeds spending, then the government necessarily
A. runs a budget deficit.
B. runs a budget surplus.
C. runs a national debt.
D. will increase taxes.
Ans: B. runs a budget surplus.
Economics
You might also like to view...
In the absence of property rights, factories will dump waste into a waterway up to the point where ________ equals ________
A) marginal social cost; marginal social benefit B) marginal social cost; marginal private cost C) marginal private cost; marginal private benefit D) marginal private cost; marginal social cost
Economics
A corrective tax is also known as:
a. a command-and-control regulation. b. a Coase tax. c. a Pigovian tax. d. a Smithian tax.
Economics