a. Do you have a surplus or a deficit? Explain. A. There is a deficit because the sum of the expenses is less than the income. B. There is a surplus because the sum of the expenses is less than the income. C. There is a surplus because the sum of the expenses is greater than the income, D. There is a deficit because the sum of the expenses is greater than the income. b. Next year, you expect to get a 3% raise. You think you can keep your expenses unchanged, with one exception: You plan to spend $9800 on a car. Explain the effect of this purchase on your budget. A. The purchase puts you into debt. B. The purchase increases your surplus. C. The purchase reduces your surplus. No, you cannot afford the tuition and fees without going into debt. Yes, you can afford the tuition and fees without going into debt