Difference between revisions of "Budget surplus"
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According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
:[[Budget surplus]]. When the government receives more in taxes than it spends in a year. | :[[Budget surplus]]. When the government receives more in taxes than it spends in a year. | ||
| + | According to [[Macroeconomics by Mankiw (7th edition)]], | ||
| + | :[[Budget surplus]]. An excess of receipts over expenditure. | ||
[[Category: Economics]][[Category: Articles]] | [[Category: Economics]][[Category: Articles]] | ||
Latest revision as of 16:53, 1 July 2020
Budget surplus is when the government receives more in taxes than it spends in a year.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Budget surplus. When the government receives more in taxes than it spends in a year.
According to Macroeconomics by Mankiw (7th edition),
- Budget surplus. An excess of receipts over expenditure.
