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If the Governmentʹs Outlays Are $1

Question 40

Multiple Choice

If the governmentʹs outlays are $1.5 trillion and its tax revenues are $2.2 trillion, the government is running a budget

A) surplus of $0.7 trillion.
B) deficit of $0.7 trillion.
C) deficit of $3.7 trillion.
D) surplus of $3.7 trillion.

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