in 2005 national government spending is $3.00 trillion and tax collections are $2.50 trillion. this…

in 2005 national government spending is $3.00 trillion and tax collections are $2.50 trillion. this government, in 2005, experienced a a. balanced budget. b. budget surplus. c. budget deficit. d. none of the above.

in 2005 national government spending is $3.00 trillion and tax collections are $2.50 trillion. this government, in 2005, experienced a a. balanced budget. b. budget surplus. c. budget deficit. d. none of the above.

Answer

Brief Explanations:

A budget deficit occurs when government spending exceeds tax collections. Here, government spending ($3.00 trillion) is greater than tax collections ($2.50 trillion).

Answer:

C. budget deficit.