A budget deficit exists if government spending ________.
a. is less than tax revenue (government budget surplus)
b. is more than tax revenue.
c. equals to tax revenue
d. it is impossible to have a budget deficit
Answer: b. is more than tax revenue.
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Which of the following statements is correct?
i. As the economy grows, the opportunity costs of economic growth decrease. ii. Economic growth has no opportunity cost. iii. The opportunity cost of economic growth is current consumption forgone. A) i only B) ii only C) iii only D) i and iii E) i and ii
In 2007, France's GDP totaled $1.9 trillion and in 2006 GDP was $1.8 trillion. The total amount spent on new capital in 2007 was $357 billion and in 2006 was $335 billion
To calculate the amount of net investment in France for these years, you need to know ________. A) saving B) depreciation C) the amount of financial capital available. D) the aggregate production function.