If government spending is greater than tax revenue, which of the following must be true? Select ALL that apply O There is a budget deficit OThe debt is increasing O There is a budget surplus O The debt is decreasing

If government spending is greater than tax revenue, which of the following must be true? Select ALL that apply O There is a budget deficit OThe debt is increasing O There is a budget surplus O The debt is decreasing

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter16: Government Spends, Collects, And Owes

Section: Chapter Questions

Problem 2AA

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Question

If government spending is greater than tax revenue, which of the following must be true?
Select ALL that apply
O There is a budget deficit
The debt is increasing
There is a budget surplus
O The debt is decreasing

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