Page 105 - Macroeconomics. book docx_Neat

Q5

A government budget is best described as:

A. A financial plan of revenues and expenditures

B. A list of private investments

C. A measure of national income
D. A tool for household saving

Answer: A

Q6

Which of the following is a source of government revenue?

A. Wages

B. Taxes
C. Consumption

D. Investment

Answer: B

Q7

A balanced budget occurs when:

A. Expenditure exceeds revenue

B. Revenue equals expenditure

C. Revenue is zero
D. Taxes are eliminated

Answer: B

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