29. 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) neither a surplus nor a deficit.
(C) a surplus of $20 billion.
(D) a deficit of $80 billion.
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