Over the past year, Ionia's money supply increased by $3 billion, $2billion in bonds were sold to the public, an unused military base was sold for $4 billion, and the government spent $20 billion. Ionia had a budget a. deficit. b. surplus.   Determine the amount of Ionia's budget deficit or surplus. $ ____ billion   Determine the amount of Ionia's tax revenue for the year. $____ billion

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Over the past year, Ionia's money supply increased by $3 billion, $2billion in bonds were sold to the public, an unused military base was sold for $4 billion, and the government spent $20 billion.

Ionia had a budget

a. deficit.
b. surplus.
 
Determine the amount of Ionia's budget deficit or surplus.
$ ____ billion
 
Determine the amount of Ionia's tax revenue for the year.
$____ billion
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