Jose Is from Guatemala

question 235

Multiple Choice

Jose is from Guatemala. He is unsure about the nature of business in Canada. You point out that a typical business in Canada operates in fundamentally the same way as a business in

• A) the People's Republic of China.
• B) Poland.
• C) Peru.
• D) England.
• E) Japan.

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Definitions:

Budget Surplus

The condition where a government's revenues exceed its expenditures over a specific period of time.

Public Saving

The difference between government receipts and government spending, representing the amount the government either saves or borrows.

Positive

In economics, referring to statements or analyses that are fact-based and describe the world as it is, rather than how it should be.

Budget Deficit

Occurs when a government spends more money than it receives in revenue over a specific period of time.