00:01
Hello, shwinz, we are going to write here government's total tax receipts are $130 and government spending on goods and services are given.
00:10
And transfer payments are given what is government, budget surplus or deficit we are going to write here.
00:17
So this must be government, government, so let's erase this to make it more clear.
00:28
Government deficit must be if i write here for this, government deficit must be, must be government spending if i write here for this, plus transfer payments, transfer payments minus tax receipts, minus tax receipts.
01:09
So let's erase this to make it more clear.
01:13
So this is tax receipts.
01:17
So now we are going to write here this must be $100.
01:22
So this is government spending.
01:25
So this is $100 plus transfer payments.
01:30
If i write here, this is $40 minus tax receive $130.
01:36
So this is $1 .40 minus $130.
01:39
So if i write here, so here we need to write here since total government spending, total government spending is greater than is greater than tax receipts.
02:08
We are going to write your tax receives then there is deficit...