By definition, a government budget deficit is the situation that occurs when the
A) government outlays exceed what is received in taxes.
B) government receipts exceed government outlays.
C) government spends money on things which do not produce revenue, such as schools.
D) economy goes into a recession.
Correct Answer:
Verified
Q45: The federal government debt is equal to
Q46: Suppose a country has been running a
Q47: The U.S. government's budget
A) must be balanced
Q48: The gross public debt was approximately $6
Q49: The sum of past budget deficits minus
Q51: If tax revenues equal $1.5 billion and
Q52: If the government runs a deficit, the
Q53: If the government has a balanced budget,
Q54: Q55: 
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