Answer Bank when the government receives more in taxes than it spends in a given time period when government spending and taxes are equal when the federal government spends more than it collects in taxes in a given time period the total accumulated amount that the government has borrowed and not yet paid back over time

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Match the terms with their definition.

Budget surplus Budget deficit Balanced budget Government debt
       
Answer Bank
when the government receives more in taxes than it spends in a given time period
when government spending and taxes are equal
when the federal government spends more than it collects in taxes in a given time period
the total accumulated amount that the government has borrowed and not yet paid back over time
Transcribed Image Text:Answer Bank when the government receives more in taxes than it spends in a given time period when government spending and taxes are equal when the federal government spends more than it collects in taxes in a given time period the total accumulated amount that the government has borrowed and not yet paid back over time
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