Question : What is a government surplus?
Option 1: When government revenue is greater than government spending
Option 2: When government revenue is less than government spending
Option 3: When government revenue is equal to government spending
Option 4: When government revenue is zero
Correct Answer: When government revenue is greater than government spending
Solution : The correct answer is (a). A government surplus occurs when government revenue is greater than government spending.
A government surplus is a financial situation where the government's total revenue from taxes, fees, and other sources exceeds its total expenditures in a given period, typically a fiscal year. It means that the government is collecting more money than it is spending, resulting in a positive balance.
A government surplus can have several implications. It can be an indicator of a healthy and well-managed economy, as it suggests that the government is generating more revenue than it requires for its current expenditures. Surpluses can be used to reduce debt, invest in infrastructure, fund future projects, or be saved for future contingencies.
Question : What is a balanced budget?
Option 1: When government spending is equal to government revenue
Option 2: When government spending is greater than government revenue
Option 3: When government spending is less than government revenue
Option 4: When government spending is zero
Question : What is the difference between a balanced budget and a surplus budget?
Option 1: A balanced budget has equal spending and revenue, while a surplus budget has more revenue than spending
Option 2: A balanced budget has more spending than revenue, while a surplus budget has equal spending and revenue
Option 3: A balanced budget has more revenue than spending, while a surplus budget has equal spending and revenue
Option 4: A balanced budget has equal spending and revenue, while a surplus budget has more spending than revenue
Question : The "revenue surplus" in the government budget refers to a situation where:
Option 1: Total revenue is greater than total expenditure
Option 2: Total revenue is equal to total expenditure
Option 3: Total revenue is less than total expenditure
Option 4: Total revenue exceeds total non-tax revenue
Question : The marginal revenue of a monopolist is
Option 1: more than price .
Option 2: equal to price .
Option 3: less than price .
Option 4: less than marginal cost .
Question : While ascending a hill, the driver of the vehicle keeps the gear ratio:
Option 1: Equal to 1
Option 2: Less than 1
Option 3: Greater than 1
Option 4: Either equal to or greater than 1
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile