The federal budget surplus recorded in 1998 resulted from a(n):
A)decrease in taxes and rapid growth in federal outlays.
B)increase in taxes and sluggish growth in federal outlays.
C)decrease in taxes and a decrease in federal outlays.
D)increase in federal outlays and taxes.
E)increase in export earnings and decrease in import bills.

Question

Quizplus · Accepted Answer

The budget surplus recorded in 1998 resulted from an increase in taxes and sluggish growth in federal outlays. This means that the government took in more revenue through taxes and spent less money, resulting in a surplus.

The Federal Budget Surplus Recorded in 1998 Resulted from A(n)