Component Dollars

billion

Receipts

Personal income taxes 500

Social Security taxes 400

Corporate income taxes 150

Indirect taxes 75

Outlays

Transfer payments 1,200

Expenditure on goods and

services 225

Debt interest 75

Deficit

1.The table above has data for a country's government budget.

a.The country has government receipts of ________ billion.

b.Government outlays for the economy equal ________ billion.

The data show the government is running a budget deficit of _______billion