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The table below presents the tax revenue and spending for the government over five years. Government Revenue and Spending 1 $500 $400 $ 100 Surplus
The table below presents the tax revenue and spending for the government over five years. Government Revenue and Spending 1 $500 $400 $ 100 Surplus v 2 300 250 50 Surplus v 3 1 0 0 55 D 450 Decit v 4 300 600 200 Surplus v 5 80 0 a 00 0 Balanced v Instructions: Enter your answer as a whole number. If you are entering a negative number include a minus sign. 3. Under the "Budget Amount" column calculate the annual budget outcome. b. Under the "Budget" column determine whether the annual budget outcome is a budget surplus, budget deficit, or a balanced budget. c. Suppose the government has no debt entering into year 1. At the end of year 5, what is the government's level of debt? Enter your answer as a positive value. 5 billion
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