Monday, April 4, 2016

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?
 



#Parkin #11edition #FiscalPolicy #Chapter30
Fiscal Policy

1 comment:

  1. 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.

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