If the government's outlays are $1.5 trillion and its tax revenues are $2.2 trillion, the government is running a budget

Name: If the government's outlays are $1.5 trillion and its tax revenues are $2.2 trillion, the government is running a budget
Brand: Quizplus
Rating: 4.9 (54 reviews)

Question

Quizplus · Accepted Answer

When the government's tax revenues exceed its outlays, it is running a budget surplus. In this case, $2.2 trillion in tax revenues minus $1.5 trillion in outlays equals a surplus of $0.7 trillion.

If the Government's Outlays Are $1