Economics A-Level
Budget surplus
What Budget surplus means in Economics A-Level, as defined for AQA.
Definitions of Budget surplus
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Reference: AQA
Occurs when revenue exceeds expenditure, allowing the government to pay off existing debt.
Generated when taxation exceeds government spending.
Topics that use Budget surplus
- Fiscal policy (AQA A-Level)
Related terms
- Aggregate demand and supply
- Aggregate supply
- Automatic stabilisers
- Budget balance
- Budget deficit
- Crowding out
- Direct taxes
- Economic capacity
Using Budget surplus in the exam
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