Assume that the federal government collected $2,407 billion in revenues in 2006, and total outlays were $2,655 billion.
A) There was a surplus of $248 billion in 2006
B) There was a deficit of $248 billion in 2006
C) The government debt in 2006 was $248 billion
D) Government transfers in 2006 were $248 billion
Correct Answer:
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