ECON 1010 : chapter 29.doc

• School: York University
• Department: Economics
• Course: ECON 1010
• Professor: Steven Edwards

Document Summary

Economics: canada in the global environment, 7e (parkin) 29. 1 government budgets: if revenues exceed outlays, the government"s budget balance is ________, and the government has a budget ________, negative; deficit, positive; surplus, positive; deficit, negative; surplus, zero; deficit. Topic: government budgets: if outlays exceed revenues, the government"s budget balance is ________, and the government has a budget ________, negative; deficit, positive; surplus, positive; deficit, negative; surplus, zero; surplus. Topic: government budgets: government debt is, equal to revenues minus outlays, always increasing, a phenomena that occurs only during times of war, the total amount of government borrowing, the result of a rising price level. Topic: government budgets: between 1981 and 1986, the federal government debt, remained constant, fell substantially, averaged 80 percent of gdp, rose dramatically in value, fluctuated widely in value, but exhibited no trend. Topic: government budgets: the category of federal government revenues that fluctuates the most is, investment income, transfer payments, personal income taxes, debt interest, indirect taxes.