When government outlays exceed tax revenues, does the government have a budget deficit or surplus?

What will be an ideal response?

When government outlays exceed tax revenues, the government is running a budget deficit.

Economics

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Between 1981 and 2013, the overall mortality rate in the United States

A) remained fairly constant. B) decreased by more than 25 percent. C) slowly but steadily increased. D) was similar to the average rate in most low-income countries.

Economics

Economists tend to believe the most efficient way to induce environmental protection is through

a. standards that control economic activities b. government provision of environmentally sensitive goods and services c. market-based incentives such as taxes and subsidies d. economic planning e. none of the above

Economics