Microeconomics Plus Mylab Economics With Pearson Etext -- Access Card Package (2nd Edition) (the Pearson Series In Finance)
2nd Edition
ISBN: 9780134641454
Author: Acemoglu
Publisher: PEARSON
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Chapter 10, Problem 1Q
To determine
Situations when the government faces a situation of budget surplus.
Expert Solution & Answer
Explanation of Solution
Government faces a situation of budget surplus when the tax revenue collected by the government is large enough to cover its expenditure and have additional funds afterwards. A situation of budget surplus indicates that the government is using its revenue appropriately and efficiently.
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Chapter 10 Solutions
Microeconomics Plus Mylab Economics With Pearson Etext -- Access Card Package (2nd Edition) (the Pearson Series In Finance)
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Similar questions
- When governments run budget surpluses, what is done with the extra funds?arrow_forwardHave spending and taxes by state and local governments In the United States had a generally upward or downward trend in the last few decades?arrow_forwardThe federal budget usually shows a surplus. True or False?arrow_forward
- The government runs a budget surplus when ? A.tax revenue falls below its spending. B.the budget is balanced. C.tax revenue exceeds its spending. D. investment exceeds its spending.arrow_forwardWhat was the budget agenda for President Barack Obama's administration?arrow_forwardHow important is tax in a government?arrow_forward
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