Question 1
The government budget deficit or surplus is the difference between what a government ________ and what it ________ in a year.
◦ pays for imports; spends on exports
◦ spends; collects in taxes
◦ earns from transfers; pays in transfers
◦ spends on programs; gives away in foreign aid
Question 2
In 2016, the city of Sylvester collected $800,000 in taxes and spent $200,000. In 2016, the city of Sylvester had a
◦ budget surplus of $200,000.
◦ budget surplus of $600,000.
◦ budget deficit of $200,000.
◦ budget surplus of $1,000,000.