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Questions
What is meant by balanced budget?
What is a balanced budget?
Explain the following concept.
Balanced budget
Explain the concept of balanced budget.
Explain
Short Answer
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Solution
A balanced budget means the total budgeted expenditure is equal to the total budgeted receipts. In other words, a balanced budget implies a situation where the total budget receipts of the government equal the total budget expenditures of the government. That is,
Balanced budget = Government expenditure = Government revenue
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Chapter 23: Measures to Correct Deficient and Excess Demand - TEST QUESTIONS [Page 23.11]
