What is the difference between budget surplus, budget deficit and a balanced budget? Which of these three budget outcomes is currently the case in the United States?
What is the difference between budget surplus, budget deficit and a balanced
budget? Which of these three budget outcomes is currently the case in the
United States?
Answer: A budget surplus occurs if tax revenues exceed outlays; a budget deficit occurs if tax revenues are less than outlays; and a balanced budget occurs if tax revenues equal outlays. Currently the United States is running a budget deficit.
Answer:
ReplyDeleteA budget surplus occurs if tax revenues exceed outlays; a budget deficit occurs if tax revenues are less than outlays; and a balanced budget occurs if tax revenues equal outlays. Currently the United States is running a budget deficit.