Suppose that in 2009 the average citizen's federal tax bill is $5,678,and total federal spending is $5,467 per person.In 2009,the federal government will have
A)a budget surplus.
B)a budget deficit.
C)horizontal equity.
D)vertical equity.

Question

Quizplus · Accepted Answer

A budget surplus occurs when total federal spending is less than the total federal tax revenue collected per person. In this case, the average tax bill ($5,678) is greater than the spending ($5,467), indicating a surplus.

Suppose That in 2009 the Average Citizen's Federal Tax Bill