When Tax Revenue Is Higher Than Government Expenditures, the Government

question 22

Multiple Choice

When tax revenue is higher than government expenditures, the government incurs a _____.

• A)private debt
• B)trade gap
• C)budget surplus
• D)fiscal deficit

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Definitions:

Transactional Cost

The expenses incurred during a trade or deal, including costs of information, negotiation, and enforcement of contracts.

Special Occasion

Events or dates that hold particular significance and often call for celebration or recognition, which can influence consumer behavior.

Personal Needs

Fundamental requirements or desires that individuals seek to fulfill, such as food, safety, or love, which can significantly influence consumer behavior.

Purchase Situation

A purchase situation involves the context or environment in which a consumer's purchase is made, affecting their choices and behavior.