A budget surplus is defined as the amount that the
A)government owes to lenders at any moment in time.
B)government spends in any time period.
C)government's expenditures exceed receipts in any time period.
D)government's receipts exceed expenditures in any time period.

Question

Quizplus · Accepted Answer

A budget surplus occurs when the government's receipts (i.e. income and taxes) exceed its expenditures (i.e. spending). Therefore, choice D is the correct answer.

A Budget Surplus Is Defined as the Amount That the