Multiple Choice
Suppose that the government of Summerfield spends $2 trillion in 2015 and receives tax revenues of $1.5 trillion. Which of the following is TRUE?
A) Summerfield has a budget surplus of $0.5 trillion.
B) Summerfield has a budget deficit of $0.5 trillion.
C) Summerfield has a trade deficit of $0.5 trillion.
D) Summerfield has a trade surplus of $0.5 trillion.
Correct Answer:
Verified
Correct Answer:
Verified
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