Question

In the country of Econoville, tax revenue collected by the government this year is $24 million, and government outlays are $28 million. This country currently has a ____(A) budget surplus of $52 million. (B) budget surplus of $4 million. (C) balanced budget. (D) budget deficit of $28 million. (E) budget deficit of $4 million.

Answer 1

Answer:

E

Explanation:

The difference between the income of a government, in this case by taxes, and the expenses in this case outlays for any reasons such a public expenses is a deficit in a case like this one that is negative or surplus in the case of positive.