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Business, 12.08.2020 08:01 pamelakroll98

Lilliput is a country that has closed borders and does not import or export any goods or services; hence, they do not worry about trade with other countries. Total spending for the federal government of Lilliput for the last fiscal year was $1.06 billion. The country collected $1.05 billion in taxes during this same fiscal year. Assume government transfers were zero. Based on this information, what is Lilliput's budget balance? In the last fiscal year, Lilliput was running:.
a. a budget surplus.
b. a balanced budget.
c. a budget deficit.

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Lilliput is a country that has closed borders and does not import or export any goods or services; h...

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