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The table below presents the tax revenue and spending for the government over five years. a. Under the Budget Amount column calculate the annual budget
The table below presents the tax revenue and spending for the government over five years.
a. 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.
Government Revenue and Spending
Year Tax Revenue (billions of dollars) Spending (billions of dollars) Budget Amount (billions of dollars) Budget
1 $ 200 $ 250
2 400 350
3 300 550
4 600 400
5 400 400
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