Question

The classical advocacy of balanced budget is based on which off the following believe?

Answer 1

The concept of a balanced budget has been advocated by classical economists.

Explanation:

The classical economists promoted and suggested the idea of a balanced budget, which they described as a budget in which government spending and revenue are equal and there is no surplus or deficit budget in the economy.

Classical economists, on the other hand, believe that monetary policy should have a limited number of activities and that the budget should be balanced annually.