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 deficit of $20 billion.
B: a surplus of $20 billion.
C: neither a surplus nor a deficit.
D: a deficit of $80 billion.
A: a deficit of $20 billion.
B: a surplus of $20 billion.
C: neither a surplus nor a deficit.
D: a deficit of $80 billion.
举一反三
- If net taxes exceed government expenditures, the government sector has a budget ________ and government saving is ________. A: surplus; positive B: surplus; negative C: deficit; positive D: deficit; negative
- An increase in the government ________ reduces the government's ________. A: budget deficit; debt B: budget surplus; debt C: debt; budget deficit D: None of the above answers is correct.
- Last year Geely only had a of $2.4 billion, whereas Volvo’s $12.4 billion.
- Income tax ________ for the fiscal year 1933, with the new tax law in effect, were $746 million, compared to $1.1 billion in 1932.
- Why does Cisco consider Huawei as the biggest fea A: Huawei has passed Cisco’s annual revenue figure of $50 billion. B: Huawei officials want that figure to reach $100 billion by 2020. C: Huawei can provide lower cost alternatives to Cisco’s products. D: Huawei booked revenue of $61 billion with a compound annual growth rate of 18%.