Suppose That the Government of Summerfield Spends $2 Trillion in 2015

question 81

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.

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