Economics · Public Finance
If the budget surplus is used to measure public saving in the context of reducing aggregate demand, how should the surplus be defined?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The excess of total expenditure over tax revenue
- 2The excess of tax revenue over total expenditure✓
- 3The equality of revenue and expenditure
- 4The equality of public debt and revenue
Correct answer
The excess of tax revenue over total expenditure
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