The table below presents the tax revenue and spending for the government over five years.

Government Revenue and Spending

Year	Tax Revenue (billions of dollars)	Spending (billions of dollars)	Budget Amount (billions of dollars)	Budget
1	$800	$200	$	(Click to select) Deficit Surplus Balanced
2	300	700		(Click to select) Deficit Surplus Balanced
3	600	600		(Click to select) Surplus Deficit Balanced
4	400	800		(Click to select) Balanced Deficit Surplus
5	400	300		(Click to select) Balanced Deficit Surplus

Instructions: Enter your answer as a whole number. If you are entering a negative number include a minus sign.

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.

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.

$ billion