APFIVE Budget Surplus Versus Budget Deficit
What is the primary difference between a budget surplus and a budget deficit?
A
Deficit occurs when revenues exceed expenditures; surplus occurs when expenditures exceed revenues.
B
Deficit is related to monetary policy, while surplus is related to fiscal policy.
C
Surplus occurs when revenues exceed expenditures; deficit occurs when expenditures exceed revenues.
D
Surplus is related to monetary policy, while deficit is related to fiscal policy.
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