When tax revenue is higher than government expenditures, the government incurs a _____.
A)private debt
B)trade gap
C)budget surplus
D)fiscal deficit

Question

Quizplus · Accepted Answer

When tax revenue is higher than government expenditures, the government has more money than it spends, resulting in a surplus of funds. This is referred to as a budget surplus. It means the government has more money available for investments, paying off debt or building up reserves.

When Tax Revenue Is Higher Than Government Expenditures, the Government