If Government Has No Debt Initially but Then Annual Revenues

question 21

Multiple Choice

If government has no debt initially but then annual revenues are $8 billion for 10 years while annual expenditures are $11 billion for 10 years, then the government has a:

• A)deficit of $3 billion per year and a debt of $30 billion.
• B)surplus of $3 billion per year and a debt of $30 billion.
• C)deficit of $30 billion and a debt of $3 billion per year.
• D)surplus of $30 billion and a debt of $3 billion per year.

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Definitions:

Wrecking Ball

A heavy piece of equipment used for demolishing large structures, such as buildings, symbolizing significant or forceful change or destruction.

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The legal process of enforcing or implementing a court's judgment or order.

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A legal condition where a party is responsible for damages or loss, regardless of fault or negligence.