Given below is information about government income and expenditures: Таxes $50,000 $7,000 $8,000 $25,000 Government transfers to households Interest payed on government debt Government purchases of...

Extracted text: Given below is information about government income and expenditures: Таxes $50,000 $7,000 $8,000 $25,000 Government transfers to households Interest payed on government debt Government purchases of goods and services Where Taxes above are gross taxes (not net taxes). Based on the table above, which of the following is true? O There is a budget deficit of $10,000 O There is a budget surplus of $10,000 There is a budget surplus of $40,000 O There is a budget deficit of $40,000