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Consider the following table that reports government revenues and expenses. Individual Taxes 850 Company Taxes 975 Transfer Payments 900 Indirect Taxes 350 Spending on goods

Consider the following table that reports government revenues and expenses. Individual Taxes 850 Company Taxes 975 Transfer Payments 900 Indirect Taxes 350 Spending on goods and services 2,700 Non-tax Revenue 45 Interest and other payments 735 (a) Calculate the budget balance. (b) Is the budget in deficit or surplus

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