Question

Computing Surpluses, Deficits, and the Debt The following data is from the government of Kraslava. Complete the following exercises. (Note: All data is in billions of dollars.) \begin{tabular}{|c|c|c|c|} \hline Year & Tax revenue ( $ \boldsymbol{T} $ ) & \begin{tabular}{c} Government spending on \\ goods \& services (G) \end{tabular} & Transfer payments (TR) \\ \hline 2018 & $ \$ 2,000 $ & $ \$ 1,200 $ & $ \$ 600 $ \\ \hline 2019 & 1,600 & 1,500 & 900 \\ \hline 2020 & 1,700 & 1,400 & 700 \\ \hline 2021 & 2,200 & 1,000 & 500 \\ \hline 2022 & 2,400 & 1,600 & 800 \\ \hline \end{tabular} 1. Determine the value of the budget balance and indicate whether there is a government surplus, deficit, or balance for each year. Show your work. \begin{tabular}{|c|c|c|} \hline Year & \begin{tabular}{c} S $ _{\text {Government }} $ \\ (billions) \end{tabular} & \begin{tabular}{c} Status of \\ government budget \end{tabular} \\ \hline 2018 & & \\ \hline 2019 & & \\ \hline 2020 & & \\ \hline 2021 & & \\ \hline 2022 & & \\ \hline \end{tabular}

          Computing Surpluses, Deficits, and the Debt
The following data is from the government of Kraslava. Complete the following exercises. (Note: All data is in billions of dollars.)
\begin{tabular}{|c|c|c|c|}
\hline Year & Tax revenue ( \( \boldsymbol{T} \) ) & \begin{tabular}{c} 
Government spending on \\
goods \& services (G)
\end{tabular} & Transfer payments (TR) \\
\hline 2018 & \( \$ 2,000 \) & \( \$ 1,200 \) & \( \$ 600 \) \\
\hline 2019 & 1,600 & 1,500 & 900 \\
\hline 2020 & 1,700 & 1,400 & 700 \\
\hline 2021 & 2,200 & 1,000 & 500 \\
\hline 2022 & 2,400 & 1,600 & 800 \\
\hline
\end{tabular}
1. Determine the value of the budget balance and indicate whether there is a government surplus, deficit, or balance for each year. Show your work.
\begin{tabular}{|c|c|c|}
\hline Year & \begin{tabular}{c} 
S \( _{\text {Government }} \) \\
(billions)
\end{tabular} & \begin{tabular}{c} 
Status of \\
government budget
\end{tabular} \\
\hline 2018 & & \\
\hline 2019 & & \\
\hline 2020 & & \\
\hline 2021 & & \\
\hline 2022 & & \\
\hline
\end{tabular}

Computing Surpluses, Deficits, and the Debt
The following data is from the government of Kraslava. Complete the following exercises. (Note: All data is in billions of dollars.)

Year Tax revenue ( T )
Government spending on

goods & services (G)
Transfer payments (TR)

2018 $ 2,000 $ 1,200 $ 600

2019 1,600 1,500 900

2020 1,700 1,400 700

2021 2,200 1,000 500

2022 2,400 1,600 800

1. Determine the value of the budget balance and indicate whether there is a government surplus, deficit, or balance for each year. Show your work.

Year
S Government

(billions)

Status of

government budget

2018

2019

2020

2021

2022

Added by Christina C.

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