Question
If tax revenues equal 20 percent of total output and government expenditures equal 15 percent of total output, then there is a a.government budget surplus.
If tax revenues equal 20 percent of total output and government expenditures equal 15 percent of total output, then there is a
a.government budget surplus.
b.trade deficit.
c.government budget deficit.
d.trade surplus.
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Microeconomics Theory and Applications with Calculus
Authors: Jeffrey M. Perloff
3rd edition
133019934, 978-0133019933
