If the government for the state of Washington collects $65.8 billion in tax revenues in 2013 and total spending in the same year is $74.8 billion, the result will be:
A. an increase in payroll tax.
B. an increase in excise tax.
C. a budget surplus.
D. a budget deficit.
Answer:D
If the government for the state of Washington collects $65.8 billion in tax revenues in 2013 and total spending in the same year is $74.8 billion, the result will be:
A. an increase in payroll tax. B. an increase in excise tax. C. a budget surplus. D. a budget deficit.
Explanation: Type: Multiple Choice