A budget surplus means that:
A. Government expenditures are greater than revenues in a given year
B. Government revenues are greater than expenditures in a given year
C. A nation's exports are greater than its imports
D. A nation's imports are greater than its exports
B. Government revenues are greater than expenditures in a given year
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A tariff is a tax on ________________.
Fill in the blank(s) with the appropriate word(s).
Refer to the accompanying figure. The total utility of consuming two pizzas a week is:
A. 25 B. 75 C. 30 D. 55
Using the ZZ/Y and NX graphs, illustrate graphically and explain what effect a reduction in taxes will have on output, exports, imports, and net exports. Clearly label all curves and clearly label the initial and final equilibria
What will be an ideal response?
Based on the transactions in the above table, what is the change in the U.S. financial account?
A. -$20,000 B. $9,800 C. -$20,200 D. $10,000