Asked by Elijah Dotson on May 18, 2024
Verified
A budget surplus occurs when government receipts exceed government spending.
Budget Surplus
A financial situation where revenue exceeds expenditures within a specific period, leaving excess funds available for savings or other uses.
Government Receipts
The total money received by the government from various sources, including tax revenues, fees, and fines.
Government Spending
The total expenditure by government agencies on goods and services, including public works, social services, and national defense.
- Understand the concept of budget surplus and deficit alongside their causes.
Verified Answer
CH
Clara HernandezMay 20, 2024
Final Answer :
True
Explanation :
A budget surplus happens when the total amount of money the government collects in a year (receipts) is greater than the total amount it spends (expenditures).
Learning Objectives
- Understand the concept of budget surplus and deficit alongside their causes.