When the government receipts are more than the government expenditure we call it as Surplus budget Deficit budget  which is correct?

MACROECONOMICS
14th Edition
ISBN:9781337794985
Author:Baumol
Publisher:Baumol
Chapter11: Managing Aggregate Demand: Fiscal Policy
Section: Chapter Questions
Problem 1DQ
icon
Related questions
Question

When the government receipts are more than the government expenditure we call it as

Surplus budget

Deficit budget 

which is correct?

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Federal Government
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MACROECONOMICS
MACROECONOMICS
Economics
ISBN:
9781337794985
Author:
Baumol
Publisher:
CENGAGE L