In 2007, Norway's government had revenue of $226.3 billion and expenditures of $158.7 billion. At the same time, GDP totalled $392 billion and government debt was about 67 percent of GDP. In 2007, Norway's government ran a government budget _ and government debt .

Question

Quizplus · Accepted Answer

Norway's government had a surplus because its revenue ($226.3 billion) exceeded its expenditures ($158.7 billion). A surplus typically allows for a reduction in government debt, so the debt decreased.

In 2007, Norway's Government Had Revenue of $226