A budget ________ occurs when government spends less than it raises through taxes and fees.

Question

Quizplus · Accepted Answer

A budget surplus occurs when government spends less than it raises through taxes and fees. This means that the government has extra funds that it can use to pay off debt, save for future projects, or provide tax cuts for its citizens. In contrast, a budget deficit occurs when government spending exceeds its revenues, leading to increased debt and potential economic instability.

A Budget ________ Occurs When Government Spends Less Than It