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If tax revenues are $10 trillion, transfers are $2 trillion, and government spending on goods and services is $9 trillion, then the budget balance is a:

A. Deficit of $3 trillion.
B. Surplus of $1 trillion.
C. Deficit of $1 trillion.
D. Balanced budget.

Answer :

Then the budget balance is a deficit of $3 trillion.

That is total collection = $ (10 + 2) trillion

expenditure = $ 9 trillion

so, budget balance = 12 - 9 = $ 3 trillion.

A budget is a calculation plan, commonly however no longer continually financial, for a described duration, regularly three hundred and sixty five days or a month.

A finances is a economic record used to challenge future earnings and prices. to position it in reality, a price range plans destiny saving and spending as well as deliberate profits and expenses.

Budgeting guarantees you are not spending more than you are making, permitting you to plot for brief- and long-time period fees. it is an clean, helpful way for people with all types of income and prices to preserve their price range so as.

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