When tax revenues minus outlays is
i. positive, the government has a budget surplus.
ii. negative, the government has a budget deficit.
iii. zero, the government has a balanced budget.
A) iii only
B) ii and iii only
C) i and ii only
D) i only
E) i, ii, and iii
E
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The recession that became the Great Depression began
A) two months prior to the stock market crash of 1929. B) with the stock market crash of 1929. C) one year after the stock market crash of 1929. D) with the banking panics of the early 1930s.
Fiscal policy attempts to make access to credit easier and cheaper
Indicate whether the statement is true or false
A typical supply curve has
a. slope equal to zero. b. slope equal to infinity. c. negative slope. d. positive slope. e. constant slope.
An expansionary fiscal policy will be effective only if the central bank of a country simultaneously prevents the market interest rate from rising
a. True b. False Indicate whether the statement is true or false