In the current year, a nation’s government spending equals $100 trillion and its revenues are $130 trillion. Which of the following is TRUE?

In the current year, a nation’s government spending equals $100 trillion and its revenues are $130 trillion. Which of the following is TRUE?

A) The nation’s national debt equals $30 trillion.

B) This nation has a current year budget surplus of $30 trillion.

C) This nation is currently running a budget deficit of $30 trillion.

D) This nation has a current year budget surplus of $230 trillion

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