Government outl ays Tax revenue (trillions of(trillions of Year 2005 dollars200s

Question

Government outl ays Tax revenue (trillions of(trillions of Year 2005 dollars200s dollars) 2008 2009 2010 2011 20121.06 .75 0.80 0.87 0.95 0.80 0.83 o.86 0.95 1.02 The table above gives a nation's government outlays (expenses) and tax revenue (ncome 2008 through 2012. Calculate the budget surplus or deficit for each year and answer the following questions. outlays (expenses) and tax revenue (income) for 28) During which years, if any, did the country have a balanced budget? A) 2008 and 2009 B) 2012 only C) 2011 only D) 2010 and 2012 E) all except 2011 (Ctrl)

Explanation / Answer

Answer

Suplus=revenue-outplay

the positive number shows the surplus and negative number shows the deficit. also, the zero shows the balanced budget.

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Option C
2011 only
the balanced budget means government outlays equal to tax revenue and that is in only 2011

year outlay revenue Surplus or deficit 2008 0.75 0.8 0.05 2009 0.8 0.83 0.03 2010 0.87 0.86 -0.01 2011 0.95 0.95 0 2012 1.06 1.02 -0.04

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