When government receipts exceed total government spending during a fiscal year,the difference is
A)a budget surplus.
B)a budget deficit.
C)the national debt.
D)automatically refunded.

Question

Quizplus · Accepted Answer

When government receipts exceed total government spending during a fiscal year, it results in a budget surplus. This means that the government has extra funds that can be used to pay down debt or invest in public programs without borrowing more money.

When Government Receipts Exceed Total Government Spending During a Fiscal