Multiple Choice
In 2007, Norwayʹs government had revenue of $226.3 billion and expenditures of $158.7 billion. At the same time, GDP totalled $392 billion and government debt was about 67 percent of GDP. In 2007, Norwayʹs government ran a government budget____________ and government debt ____________.
A) surplus; decreased
B) deficit; increased
C) surplus; increased
D) deficit; decreased
Correct Answer:
Verified
Correct Answer:
Verified
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