A central government collected taxes totaling $120 billion in the previous year.It's expenditure during the year was roughly the same.This is an example of a

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A balanced budget is when the government's total revenue (taxes) is equal to its total expenditure. In this case, since the government collected taxes totaling $120 billion and spent roughly the same amount, it indicates a balanced budget. A surplus budget would mean that the government collected more taxes than it spent, a deficit budget would mean that the government spent more than it collected in taxes, and a zero budget would mean that the government's revenue and expenditure were both zero.

A Central Government Collected Taxes Totaling $120 Billion in the Previous