Question

When tax revenue exceeds government spending​ (government purchases and transfer​ payments) there is ▼ a budget surplus dissaving a budget deficit a balanced budget . when tax revenue equals government spending there is ▼ dissaving a budget surplus a balanced budget a budget deficit . when tax revenue is less than government spending there is ▼ a budget deficit positive public saving a balanced budget a budget surplus ?

Answer 1

When tax revenue exceeds government spending​ (government purchases and transfer​ payments) there is a federal budget surplus.

A deficit is defined as an amount of money that is too small and a surplus is when the amount of money is larger. In this case, the revenue the government has is more than the money owed so they have a surplus of money and spending power.