Which of the Following Statements Regarding the U

Multiple Choice

Which of the following statements regarding the U.S government's budget surpluses and deficits is correct?

A) If tax revenues exceed outlays, the government has a budget deficit.
B) During the 1980s large deficits arose from a combination of tax cuts and expenditure increases.
C) Budget deficits tend to shrink during periods of recession.
D) Since 1980, federal tax revenues have generally exceeded outlays.