Economics 2281 · O Level · Fiscal policy

Fiscal policy — practice question

The details below relate to an economy over one financial year. Government expenditure = $2866$ million; government revenue = $1940$ million. What was the budget balance of the government in that year?

  • A$926$ million in deficit
  • B$4806$ million in deficit
  • C$926$ million in surplus
  • D$4806$ million in surplus

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