What is net tax revenue in excess of government spending on goods and services called?

Question

Quizplus · Accepted Answer

Net tax revenue in excess of government spending on goods and services is called a budget surplus. This means that the government is collecting more revenue than it is spending, resulting in a surplus of money that can be used for paying off debt, investing in programs or even returning some of the surplus to taxpayers in the form of tax cuts. Gross tax revenue refers to the total tax revenue collected by the government, while a budget deficit occurs when government spending exceeds its revenue. Transfer payments are payments made to individuals or groups without the expectation of receiving goods or services in return, such as social security or welfare payments.

What Is Net Tax Revenue in Excess of Government Spending