Suppose That in 2020 the Average Citizen's Federal Tax Bill

question 25

Multiple Choice

Suppose that in 2020 the average citizen's federal tax bill is $12,466,and total federal spending is $10,824 per person.In 2020,the federal government will have

• A)a budget surplus.
• B)a budget deficit.
• C)horizontal equity.
• D)vertical equity.

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Definitions:

Effectively Control

Effectively control in financial terms refers to the power to direct the financial and operational policies of an entity so as to gain benefits from its activities, often achieved through ownership, contracts, or other means.

Minimum Total Price

The lowest possible aggregate amount that can be charged or paid for a particular set of goods or services.

Pre-Merger Value

The valuation of a company before it enters into a merger or acquisition, often used to assess the financial impact of the merger.

Additional Value

The extra worth created by an investment, project, or action beyond the initial cost or investment.