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Computing Surpluses, Deficits, and the Debt The following data is from the government of Kraslava. Complete the following exercises. (Note: All data is in billions

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Computing Surpluses, Deficits, and the Debt The following data is from the government of Kraslava. Complete the following exercises. (Note: All data is in billions of dollars.) Government spending on Year Tax revenue (T) goods & services (G) Transfer payments (TR) 2018 $2,000 $1,200 $600 | 2019 | 1600 | 150 | 90 1. Determine the value of the budget balance and indicate whether there is a government surplus, deficit, or balance for each year. Show your work. SGovemmen#' Status of Year (billions) government budget 2018 20 0\\ 0000000000000 0] 0200 00\\ 0000000 0000000000000 o2 0\\ 0000000000000 00000000 - 20 T ]

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