Say that in 2013, the government collected £250 billion in taxes and spent £400 billion. This means it would have had a
A) budget deficit of £150 billion.
B) budget surplus of £150 billion.
C) budget deficit of £650 billion.
D) budget surplus of 83%.
Correct Answer:
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Q1: If central government's spending exceeds its tax
Q2: If the budget deficit is lower than
Q3: The difference between what central and local
Q5: Which of the following statements is false?
Q6: The excess of the central government's tax
Q7: When a country has a positive public
Q8: The accumulated budget deficit (less any surpluses)
Q9: When a country has a public sector
Q10: If a government had a PSDR for
Q11: If the total expenditure of the UK
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