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26 May, 23:08

Which of the following equals the amount of public saving?

A. Government tax revenue minus the sum of government purchases and transfer payments to households.

B. The sum of government purchases and government tax revenue, minus transfer payments to households.

C. Government transfer payments to household minus the sum of government tax revenue and government purchases.

D. The sum of government tax revenue, government purchases, and government transfer payments to households.

A government that collects more in taxes than it spends experiences

A. a budget balance.

B. a budget surplus.

C. a budget deficit.

D. an increase in the national debt.

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Answers (1)
  1. 27 May, 03:03
    0
    The answers are:

    A) Government tax revenue minus the sum of government purchases and transfer payments to households. B) a budget surplus

    Explanation:

    The formula to calculate public saving is (T - G - TR).

    T stands for all the government revenue through taxes and tariffs. G stands for all the government spending including purchase of goods and provision of services. TR stands for all the government transfers including payments to individuals and households through social programs (including social security).

    Budget surplus is the same as public saving.
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