Question

The bar graph shows that in 2000 and 2001 , the U.S. government collected more in taxes than it spent, so there was a budget surplus for each of these years. By contrast, in 2002 through $2009,$ the government spent more than it collected, resulting in budget deficits. Exercises $79-80$ involve these deficits. (GRAPH CANT COPY) a. In $2008,$ the government collected $\$ 2521$ billion and spent $\$ 2931$ billion. Find $2521+(-2931)$ and determine the deficit, in billions of dollars, for 2008 . b. In $2009,$ the government collected $\$ 2700$ billion and spent $\$ 3107$ billion. Find the deficit, in billions of dollars, for 2009 c. Use your answers from parts (a) and (b) to determine the combined deficit, in billions of dollars, for 2008 and 2009

Name: Problem 79, Chapter 1: Introductory and Intermediate Algebra for College Students 4th
Uploaded: 2020-07-01T20:25:02-08:00
Duration: 3 min 2 s
Channel: Chelsea Green

   The bar graph shows that in 2000 and 2001 , the U.S. government collected more in taxes than it spent, so there was a budget surplus for each of these years. By contrast, in 2002 through $2009,$ the government spent more than it collected, resulting in budget deficits. Exercises $79-80$ involve these deficits.
(GRAPH CANT COPY)
a. In $2008,$ the government collected $\$ 2521$ billion and spent $\$ 2931$ billion. Find $2521+(-2931)$ and determine the deficit, in billions of dollars, for 2008 .
b. In $2009,$ the government collected $\$ 2700$ billion and spent $\$ 3107$ billion. Find the deficit, in billions of dollars, for 2009
c. Use your answers from parts (a) and (b) to determine the combined deficit, in billions of dollars, for 2008 and 2009

Introductory and Intermediate Algebra for College Students 4th

Robert Blitzer 4th Edition

Chapter 1, Problem 79

Instant Answer

Solved by Expert Chelsea Green

07/01/2020

Step 1

The deficit is calculated by subtracting the amount spent from the amount collected. In this case, we are adding a positive number (amount collected) to a negative number (amount spent). So, the calculation is $2521+(-2931)$. Show more…

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The bar graph shows that in 2000 and 2001 , the U.S. government collected more in taxes than it spent, so there was a budget surplus for each of these years. By contrast, in 2002 through $2009,$ the government spent more than it collected, resulting in budget deficits. Exercises $79-80$ involve these deficits. (GRAPH CANT COPY) a. In $2008,$ the government collected $\$ 2521$ billion and spent $\$ 2931$ billion. Find $2521+(-2931)$ and determine the deficit, in billions of dollars, for 2008 . b. In $2009,$ the government collected $\$ 2700$ billion and spent $\$ 3107$ billion. Find the deficit, in billions of dollars, for 2009 c. Use your answers from parts (a) and (b) to determine the combined deficit, in billions of dollars, for 2008 and 2009

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Key Concepts

Budget Surplus and Deficit

This concept involves comparing a government's income (tax revenues) with its expenditures. A surplus indicates that revenues exceed spending, while a deficit indicates the opposite. Understanding this is crucial in analyzing fiscal health and economic policies over different periods.

Arithmetic with Negative Numbers

When computing deficits, representing expenditures as negative numbers and performing addition helps to simplify the calculation of net fiscal outcomes. This concept is important for accurately determining losses or gains in financial contexts.

Combining Financial Data

Aggregating figures from different time periods requires summing individual deficits or surpluses to determine a cumulative financial outcome. This technique is key in financial analysis for assessing overall performance over multiple years.

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