Question

Which statement correctly describes a surplus?(1 point)ResponsesThe national debt of the federal government is greater in the current fiscal year than the previous fiscal year.The national debt of the federal government is greater in the current fiscal year than the previous fiscal year.The total revenue of the federal government is greater than its total expenses in the fiscal year.The total revenue of the federal government is greater than its total expenses in the fiscal year.The total revenue of the federal government is equal to its total expenses in the fiscal year.The total revenue of the federal government is equal to its total expenses in the fiscal year.The total revenue of the federal government is less than its total expenses in the fiscal year.The total revenue of the federal government is less than its total expenses in the fiscal year.

Answer 1

[AI-generated answer — Bot GPT 3.5]

The statement "The total revenue of the federal government is greater than its total expenses in the fiscal year." correctly describes a surplus.