A balanced budget occurs when O the national debt is reduced to zero dollars. O a budget deficit during one year is matched by a budget surplus the next year. transfer payments equal tax receipts. O government expenditures equal tax receipts. O the deficit GDP ratio equals one. Question 39 Fiscal Policy refers to O efforts to balance a governments budget. O changes in the money supply to achieve particular economic goals, O changes in government expenditures and taxation to achieve particular economic goals. O the change in private expenditures that occurs as a consequence of changes in government spending.