Government ov lays Tax revenue (trillifons of (trillions of Year 2005 dollars) 2

Question

Government ov lays Tax revenue (trillifons of (trillions of Year 2005 dollars) 2005 dollars) 2008 2009 2010 2011 2012 0.75 0.80 0.87 0.95 1.06 0.80 0.83 0.86 0.95 1.02 The table above gives a nation's government outlays (expenses) and tax revenue (income) for 2008 through 2012. Calculate the budget surplus or deficit for each year and answer the following questions. 27) During which years did the country have a budget deficit? A) 2008 and 2009 B) 2012 only C) 2011 only D) 2010 and 2012 E) all except 2011

Explanation / Answer

Answer.)

27.) Trade deficit is present in the years

D.) 2010 and 2012

Year outlays - revenues ( trillions of 2005 dollars) 2008 (-0.05) 2009 (-0.03) 2010 0.01 2011 0 2012 0.04

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