|
|
Like other institutions, governments operate on a budget -- or try to do so. When the expenditures of a government (its purchases of goods and services, plus its tranfers (grants) to individuals and corporations) are greater than its tax revenues, it creates a deficit in the government budget. When tax revenues exceed government purchases and transfer payments, the government has a budget surplus (as in the late 1990s in the United States).
|
The infomation above is licensed under the GNU Free Documentation License and is derived from The Free Encyclopedia.com
|
|
|
|
Copyright ©
InvestorDictionary.com - All rights reserved.