Consider a Closed Economy (With No Foreign Trade) The Government's Deficit (Surplus) Was
A)R30 Billion Surplus

Multiple Choice

Consider a closed economy (with no foreign trade) .Assuming the economy was in equilibrium, use the following information to determine the government's budget deficit or surplus. $\begin{array}{ll}\text { Consumption Spending } & € 350 \text { billion } \\\text { Net Taxes } & \text { R270 billion } \\\text { Household Saving } & \text { R250 billion } \\\text { Investment Spending } & \text { R220 billion }\end{array}$ The government's deficit (surplus) was

A) R30 billion surplus.
B) R20 billion surplus.
C) R30 billion deficit.
D) R50 billion deficit.