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WAEC Economics 2013 Question 11

Question 11

Public Finance

A budget is balanced when expected total revenue is

  1. A.greater than expected expenditure.
  2. B.less than total expenditure.
  3. C.equal to expected expenditure.
  4. D.greater than total expenditure.
Show the answer and explanation

Answer: C (equal to expected expenditure.)

Explanation

A balanced budget has planned revenue equal to planned expenditure.