Question : The difference between a government's total revenue and total expenditure is known as:
Option 1: National income
Option 2: Fiscal deficit
Option 3: Trade deficit
Option 4: Budget surplus
Answer (1)
23rd Jan, 2024
Correct Answer: Budget surplus
Solution : The correct answer is (d) Budget surplus.
The difference between a government's total revenue and total expenditure is known as a budget surplus when the total revenue exceeds the total expenditure. It means that the government has a surplus of funds available after meeting all its expenses.
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