The table shows government revenue and government spending in four economies during one financial year.
| Economy | Government revenue (£ billion) | Government spending (£ billion) |
|---|---|---|
| J | 460 | 448 |
| K | 520 | 520 |
| L | 610 | 628 |
| M | 705 | 714 |
Which economy's government has a budget surplus for the financial year?
Economy J
Economy L
Economy M
Economy K
76 exam-style questions on OCR GCSE Economics 3.5 Fiscal policy, covering 3.5.1 Government spending and revenue, 3.5.2 Budget balance, surplus and deficit, 3.5.3 What is fiscal policy, 3.5.4 Calculate effects of taxes and spending, 3.5.5 Analyse effects of taxes and spending, 3.5.6 Costs and benefits of fiscal policy, and 3.5.7 Redistributing income and wealth. Each one has a worked solution and a mark scheme showing where the marks go.