A country currently has an outstanding debt of $45 billion. Its current-year expenditures are $12 billion and its tax revenue is $14 billion. Which of the following statements is true? The country has a budget deficit of $2 billion in the current year and a national debt of $43 billion. The country has a budget surplus of $2 billion in the current year and a national debt of $47 billion. The country has a budget surplus of $2 billion in the current year and a national debt of $43 billion. The country has a budget deficit of $2 billion in the current year and a national debt of $47 billion.
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