30 Oct 2021
Problem 41
Page 740
Section: CRITICAL THINKING QUESTIONS
Chapter 30: Government Budgets and Fiscal Policy
Textbook ExpertVerified Tutor
30 Oct 2021
Introduction
The government budget is said to be in deficit when the expenditure incurred by the government exceeds the revenue earned by the government. On the other hand, the government budget is said to be in surplus when the revenue earned by the government exceeds the expenditure incurred by the government.
Unlock all Textbook Solutions
Already have an account? Log in