If the state of Washington’s government collects $75 billion in tax revenues in 2013 and total spending in the same year is $74.8 billion, the result will be a:
A. budget deficit.
B. budget surplus.
C. decrease in payroll tax.
D. decrease in proportional taxes.
Answer:B
If the state of Washington’s government collects $75 billion in tax revenues in 2013 and total spending in the same year is $74.8 billion, the result will be a:
A. budget deficit. B. budget surplus. C. decrease in payroll tax. D. decrease in proportional taxes.
Explanation: Type: Multiple Choice