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

question 96

Multiple Choice

Suppose that in 2020 the average citizen's federal tax bill is $11,888 per person,and total federal spending is $13,997 per person.In 2020,the federal government will have

• A)a per person budget surplus of $2,109.
• B)a per person budget deficit of $2,109.
• C)horizontal equity.
• D)vertical equity.

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Definitions:

Smallest Value

The minimum value within a set of numbers or measurements.

SUM(range)

A mathematical function that adds together all numbers in a specified range.

Add Values

The operation of performing addition to increase or combine numeric quantities.

Ratio Scale

A quantitative scale of measurement that includes a defined zero point, equal intervals, and the ability to express quantities as multiples of one another.