Author Question: A government budget surplus is A) a situation in which the supply of goods in the economy is ... (Read 174 times)

Charlie · **on:** Jun 29, 2018

A government budget surplus is

A) a situation in which the supply of goods in the economy is greater than the demand for goods.
B) a situation in which the amount spent by the government is greater than the amount collected in taxes.
C) the public debt.
D) an excess of revenues over government spending.

Question 2

Economists assume that when there is a change in supply and/or demand, the market clearing price returns to the equilibrium

A) quickly.
B) slowly.
C) after a protracted negotiation process.
D) after an adjustment period.