When Government Outlays Exceed Tax Revenue The Situation Is Called A Budget Quizlet? When government’s expenditures exceed its tax revenues, the budget. Has a deficit and the national debt is increasing. When government outlays exceed tax revenues, the situation is called a budget. Deficit. When government outlays exceed tax revenue the situation is called a
What Is The Difference Between A Budget Deficit A Balanced Budget And A Budget Surplus? When a government spends more than it collects in taxes, it is said to have a budget deficit. When a government collects more in taxes than it spends, it is said to have a budget surplus. If government spending and
Are The Business Cycle And The Budget Balence Related? Governments’ budget balances fluctuate with the business cycle and this requires computing a cyclically adjusted balance (CAB). What effect does the business cycle in the economy have on government budget balance? For example, during recessions, the budget deficit tends to increase because of the automatic stabilizers