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Component Dollars (billions) Personal income taxes 720 Social Security taxes 450 Corporate income taxes 250 Indirect taxes 40 Transfer payments 890 Expenditures on goods and
Component Dollars (billions) Personal income taxes 720 Social Security taxes 450 Corporate income taxes 250 Indirect taxes 40 Transfer payments 890 Expenditures on goods and services 420 Debt interest 230 Using the above table, what are the total revenues for this country? Using the above table, what are the total outlays for this country? Is the country above running a budget surplus, balanced budget, or budget deficit? What is the magnitude (size) of budget surplus or deficit
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