Question

1. match the fiscal policy term to its meaning:
2. revenue

a. money spent by government

1. taxes

b. mandatory payments to government

1. expenditure

c. money raised by government

Explanation:

• Revenue refers to the money raised by the government.
• Taxes are the mandatory payments to the government.
• Expenditure is the money spent by the government.

Answer:

1. Revenue - c. Money raised by government
2. Taxes - b. Mandatory payments to government
3. Expenditure - a. Money spent by government