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

question 55

Multiple Choice

Suppose that in 2020 the average citizen's federal tax bill is $14,888 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 $891.
• B)a per person budget deficit of $891.
• C)horizontal equity.
• D)vertical equity.

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Definitions:

Income Security

A safety net ensuring that individuals have access to sufficient income to meet their basic needs, often through social welfare programs or policies.

Social Security

A government program designed to provide financial assistance to people who are retired, unemployed, or otherwise unable to earn a sufficient income.

Mobilize Resources

The act of organizing, deploying, and managing resources such as people, capital, and materials to achieve specific goals.

Media Awareness

The understanding and critical evaluation of how mass media, advertising, and popular culture affect individuals and society.