ECONOMICS
FISCAL POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When does a budget surplus occur?
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When a country exports more than it imports
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When a country imports more than it exports
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When government revenues exceed public expenditure
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When public expenditure exceeds government revenues
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Explanation:
Detailed explanation-1: -A budget surplus occurs if government revenues exceed expenditures. A budget deficit occurs if government expenditures exceed revenues. The minus sign is often omitted when reporting a deficit. If the budget surplus equals zero, we say the government has a balanced budget.
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