The table below shows the payroll taxes that four individuals pay. Labor Income, Tax Paid, and Average Tax Rate 2 Labor Income Tax Paid Average Tax Rate points Individual (dollars) (dollars) percent) Samantha $42, 000 $4, 200 Charles 64,900 7, 680 Amanda 80, 900 11, 200 eBook Young 105, 000 16, 800 % Instructions: Enter your answers as a whole number. References a. Complete the table above by calculating the average payroll tax rate paid by each individual on his or her labor income. b. Is the payroll tax depicted here progressive, regressive, or proportional? The payroll tax is progressive. O The payroll tax is regressive. O The payroll tax is proportional.2 The table below presents the tax revenue and spending for the government over five years. Government Revenue and Spending 2 Tax Revenue Spending Budget Amount points (billions of (billions of (billions of Year dollars) dollars) dollars) Budget 1 $206 $500 $ (Click to select) v 2 300 500 (Click to select) I W 306 300 eBook (Click to select) 4 609 200 (Click to select) 200 100 (Click to select) v References 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. $ billion3 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. 2 points Instructions: Enter your answer as a whole number. If you are entering a negative number include a minus sign. b. Under the "Budget" column determine whether the annual budget outcome is a budget surplus, budget deficit, or a balanced budget. eBook Government Revenue and Spending Tax Revenue Spending Budget Amount References (billions of (billions of (billions of Year dollars) dollars) dollars) Budget 1 $200 $250 $ (Click to select) v 2 400 350 (Click to select) v W 309 550 (Click to select) v 4 600 400 (Click to select) v 5 400 400 (Click to select) v