If the total revenue collected by the federal government in a particular year is $1.2 billion and the total amount spent by the government during the same year is $3.8 billion,what is the budget deficit?

Question

Quizplus · Accepted Answer

To calculate the budget deficit, we need to subtract the total amount spent from the total revenue collected. 
Budget Deficit = Total Spent - Total Revenue
Budget Deficit = $3.8 billion - $1.2 billion
Budget Deficit = $2.6 billion. Therefore, the correct answer is B) $2.6 billion.

If the Total Revenue Collected by the Federal Government in a Particular