How does a deficit compare to a surplus in the federal government's budget?(1 point)

Question

Responses

A deficit is when the total expenses is equal to the total revenues. A surplus is when the total revenues is greater than the total expenses.
A deficit is when the total expenses is equal to the total revenues. A surplus is when the total revenues is greater than the total expenses.

A deficit is when the total expenses is greater than the total revenues. A surplus is when the total revenues is equal to the total expenses.
A deficit is when the total expenses is greater than the total revenues. A surplus is when the total revenues is equal to the total expenses.

A deficit is when the total expenses is greater than the total revenues. A surplus is when the total revenues is greater than the total expenses.
A deficit is when the total expenses is greater than the total revenues. A surplus is when the total revenues is greater than the total expenses.

A deficit is when the total revenues is greater than the total expenses. A surplus is when the total revenues is equal to the total expenses.

Answer 1

The correct response is:

A deficit is when the total expenses is greater than the total revenues. A surplus is when the total revenues is greater than the total expenses.

This statement accurately describes the relationship between federal budget deficits and surpluses.