The table gives the government outlays and tax revenues from 2015 through 2019 for two countries. Year Country A Government outlays (trillions of 2012 dollars) Country A Tax revenue (trillions of 2012 dollars) Country B Government outlays (trillions of 2012 dollars) Country B Tax revenue (trillions of 2012 dollars) 2015 0.75 0.80 1.05 1.10 2016 0.80 0.83 0.90 0.92 2017 0.87 0.86 0.87 0.88 2018 0.95 0.95 0.85 0.83 2019 1.06 1.02 0.70 0.75 In 2017 country A had a ________ and country B had a ________. A. budget deficit; budget deficit B. budget surplus; budget deficit C. budget surplus; budget surplus D. budget deficit; budget surplus E. balanced budget; budget deficit
The table gives the government outlays and tax revenues from 2015 through 2019 for two countries. Year Country A Government outlays (trillions of 2012 dollars) Country A Tax revenue (trillions of 2012 dollars) Country B Government outlays (trillions of 2012 dollars) Country B Tax revenue (trillions of 2012 dollars) 2015 0.75 0.80 1.05 1.10 2016 0.80 0.83 0.90 0.92 2017 0.87 0.86 0.87 0.88 2018 0.95 0.95 0.85 0.83 2019 1.06 1.02 0.70 0.75 In 2017 country A had a ________ and country B had a ________. A. budget deficit; budget deficit B. budget surplus; budget deficit C. budget surplus; budget surplus D. budget deficit; budget surplus E. balanced budget; budget deficit
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
The table gives the government outlays and tax revenues from 2015 through 2019 for two countries.
Year
|
Country A
Government outlays
(trillions of 2012 dollars)
|
Country A
Tax revenue
(trillions of 2012 dollars)
|
Country B
Government outlays
(trillions of 2012 dollars)
|
Country B
Tax revenue
(trillions of 2012 dollars)
|
---|---|---|---|---|
2015
|
0.75
|
0.80
|
1.05
|
1.10
|
2016
|
0.80
|
0.83
|
0.90
|
0.92
|
2017
|
0.87
|
0.86
|
0.87
|
0.88
|
2018
|
0.95
|
0.95
|
0.85
|
0.83
|
2019
|
1.06
|
1.02
|
0.70
|
0.75
|
In 2017 country A had a ________ and country B had a ________.
budget deficit; budget deficit
budget surplus; budget deficit
budget surplus; budget surplus
budget deficit; budget surplus
balanced budget; budget deficit
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you


Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON

Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON


Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON

Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON

Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning

Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education
Expert Answers to Latest Homework Questions
Q: Hello experts Answer should be match in options. Many experts are giving incorrect answer they are…
Q: hello tutor please help me
Q: Please need answer the financial accounting question
Q: What is the answer? A. B. ? General accounting question
Q: Let x be a random variable that represents the percentage of successful free throws a professional…
Q: Not use ai please
Q: need this account subjects solution
Q: What is the earnings yield of a single share for this financial accounting question?
Q: Financial accounting question
Q: compute the load bearing capacity, displacement, stress distribution, tabulate the answers
Q: provide correct answer account questions
Q: can you please solve this
Q: No chatgpt pls will upvote Already got wrong chatgpt answer
Q: compute the load bearing capacity, displacement, and stress distribution, tabulate the answers
Q: Please provide answer this financial accounting question
Q: help me to solve this questions
Q: All computations must be done and shown manually. No spreadsheet computations are allowed.
Q: General accounting
Q: compute the load bearing capacity, displacement, stress distribution, tabulate the answers
Q: expert of account answer
Q: During 2019, Bitsincoins Corporation had EBIT of $100,000, a change in net fixed assets of $400,000,…