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Economic Analysis of Social Issues 1st Edition by Alan Grant
Edition 1ISBN: 978-0134098371Economic Analysis of Social Issues 1st Edition by Alan Grant
Edition 1ISBN: 978-0134098371 Exercise 36
If annual government expenditures exceed annual government receipts, the government is running a _________; if receipts exceed expenditures, the difference is called a________.
A) Debt; deficit
B) Budget deficit; budget surplus
C) Budget surplus; debt
D) Budget surplus; budget deficit
A) Debt; deficit
B) Budget deficit; budget surplus
C) Budget surplus; debt
D) Budget surplus; budget deficit
Explanation
Verified
Verified
Any economy is said to have budget surpl...
Economic Analysis of Social Issues 1st Edition by Alan Grant
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