If the total government expenditure in a country during a particular year amounts to $4.9 million and its total tax collection in the same year is $5.9 million, then:
a. there is a budget deficit of $4 million.
b. there is a budget surplus of $10 million.
c. there is a budget deficit of $1 million.
d. there is a budget surplus of $1 million.
d
Economics
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Higher U.S. interest rates cause the value of the dollar to
A) rise, making U.S. goods relatively cheaper on world markets. B) fall, making U.S. goods relatively cheaper on world markets. C) rise, making U.S. goods relatively more expensive on world markets. D) fall, making U.S. goods relatively more expensive on world markets.
Economics
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Economics