When government outlays exceed tax revenues, does the government ...

[Engineer]

When government outlays exceed tax revenues, does the government have a budget deficit or surplus?
 
  What will be an ideal response?

Question 2

Property rights assure people that
 
  A) the government will not confiscate their income or savings.
  B) the government will provide a minimum standard of living.
  C) the factors of production and goods are owned jointly by the government and the people.
  D) economic growth will enhance government involvement in the economy.
  E) international trade will be limited.

[snackralk]

Answer to Question 1

When government outlays exceed tax revenues, the government is running a budget deficit.

Answer to Question 2

A

[Engineer]

YES! Correct, THANKS for helping me on my review

[diana chang]

Excellent