Suppose that in 2020 the average citizen's federal tax bill is $11,987,and total federal spending is $12,294 per person.In 2020,the federal government will have
A)a budget surplus.
B)a budget deficit.
C)horizontal equity.
D)vertical equity.

Question

Quizplus · Accepted Answer

Since the total federal spending ($12,294 per person) is bigger than the average citizen's federal tax bill ($11,987), the federal government will have a budget deficit.

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