Civil Services TNPSC Group 1 (New Syllabus) Mock Test 2025 General Knowledge Economy Money and Banking
Read the following about balanced budget.
A. The government may spend an amount equal to the revenue it collects. This is known as a balanced budget.
B. If it needs to incur higher expenditure, it will have to raise the amount through taxes in order to keep the budget balanced.
Identify the CORRECT statement/statements.
1
Only B
2
Only A
3
Neither A nor B
4
Both A and B