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vellojo vellojo
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7 years ago
Suppose the only revenue taken in by the government is in the form of income tax, and the tax rate is 10 percent. If aggregate income is $800 billion, and government outlays are $100 billion then the government budget has
A) a surplus of $20 billion.
B) a deficit of $80 billion.
C) neither a surplus nor a deficit.
D) a deficit of $20 billion.
Textbook 
Foundations of Macroeconomics

Foundations of Macroeconomics


Edition: 8th
Authors:
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Studying economics @ Edinburgh U
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amishamish
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7 years ago
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vellojo Author
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#2
7 years ago
Checks out after I submitted my assignment Smiling Face with Open Mouth
Studying economics @ Edinburgh U
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