Suppose that in 2020 the average citizen's federal tax bill is $11,987, and total federal spending is $12,294 per person. In 2020, the federal government will have
a. a budget surplus.
b. a budget deficit.
c. horizontal equity.
d. vertical equity.
b
You might also like to view...
"Heuristics" used by the human brain refer to the:
A. Ability of the brain to make sophisticated and accurate mental processes B. Shortcuts that the brain uses in order to process information C. Elements in the brain that lead to consistent interpretation of all visual information D. Mental processes that burn and oftentimes waste a lot of energy
Refer to the table below. Based on the data provided, it can be deduced that:
The table below shows labor-productivity figures in two countries facing constant costs:
A. Country A can produce more meat and houses than country B
B. Country A has a comparative advantage in producing houses
C. Country B has the absolute advantage in producing houses
D. Country B has a comparative advantage in producing houses