The table below presents the tax revenue and spending for the government over five years. Government Revenue and Spending Year Tax Revenue (billions of dollars) spending (billions of dollars) Budget Amount (billions of dollars) Budget 1 $400 $300 $________ ______ 2 500 450 ______ _______ 3 150 550 _______ ________ 4 200 200 _______ _______ 5 700 500 _______ ________ Instructions: Enter your answer as a whole number. If you are entering a negative number include a minus sign. Under the “Budget Amount” column calculate the annual budget outcome. Under the “Budget” column determine whether the annual budget outcome is a budget surplus. Budget deficit, or a balanced budget. Suppose the government has no debt entering into year 1. At the end of year 5, what is the government’s level of debt? Enter your answer as a positive value. _________ billion
The table below presents the tax revenue and spending for the government over five years.
Government Revenue and Spending
Year Tax Revenue (billions of dollars) spending (billions of dollars) Budget Amount (billions of dollars) Budget
1 $400 $300 $________ ______
2 500 450 ______ _______
3 150 550 _______ ________
4 200 200 _______ _______
5 700 500 _______ ________
Instructions: Enter your answer as a whole number. If you are entering a negative number include a minus sign.
- Under the “Budget Amount” column calculate the annual budget outcome.
- Under the “Budget” column determine whether the annual budget outcome is a budget surplus. Budget deficit, or a balanced budget.
- Suppose the government has no debt entering into year 1. At the end of year 5, what is the government’s level of debt? Enter your answer as a positive value.
_________ billion
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
