The government of Ricardia's budget lists the following projected revenues and outlays: $25 million in personal income taxes, $15 million in corporate income taxes, $5 million in indirect taxes, $2 million in investment income, $30 million in transfer payments, $12 million in government expenditure, and $8 million in debt interest. Ricardia has a government budget
A) surplus of $3 million.
B) surplus of $57 million.
C) surplus of $13 million.
D) deficit of $13 million.
E) deficit of $3 million.
Correct Answer:
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