The following table shows government spending and tax revenue for a hypothetical economy over a five-year period.  All figures are in billions. Year Government Spending Tax Revenues 1 $   800 $825 2 850 850 3 900 875 4 950 900 5 1000 925 i) In what years were there budget deficits and what were the amounts?     ii) In what years were there budget surpluses and what were the amounts?

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Chapter12: Federal Budgets And Public Policy
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The following table shows government spending and tax revenue for a hypothetical economy over a five-year period.  All figures are in billions.




Year

Government Spending

Tax Revenues

1

$   800

$825

2

850

850

3

900

875

4

950

900

5

1000

925

i) In what years were there budget deficits and what were the amounts?    

ii) In what years were there budget surpluses and what were the amounts?

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