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Match the terms below with their definition. Solution 1.) Budget surplus: When the government receives more in taxes than it spends in a given time period. 2.)Budget deficit: When the government spends more than it collects in taxes in a given time period. 3.) Balanced budget :When government spending and taxes are equal. 4.)Government Debt : The total accumulated amount that the government has borrowed and not yet paid back over time..

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Match the terms below with their definition. Solution 1.) Budget surplus: When the government receives more in taxes than it spends in a given time period. 2.)Budget deficit: When the government spends more than it collects in taxes in a given time period. 3.) Balanced budget :When government spending and taxes are equal. 4.)Government Debt : The total accumulated amount that the government has borrowed and not yet paid back over time.

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