Question

The concept of balanced budget has been advocated by the _____________ economists.

• A. classical
• B. Keynesian
• C. modern
• D. none of the above

Answer 1

Answer: (A)

classical

The classical economist advocated and proposed the concept of balanced where according to them, a balanced budget refers to a budget where the government expenditure and government revenue are equal and there is no surplus budget or deficit budget in the economy.