Calculation for Fiscal Policy

Year	Government outlays (trillions of 2005 dollars)	Tax receipts (trillions of 2005 dollars)
2007	0.75	0.80
2008	0.80	0.83
2009	0.87	0.86
2010	0.95	0.95
2011	1.06	1.02

The above table gives a country's government outlays and tax receipts for 2007 through 2011. During which years did the country have a balanced budget, budget surplus, and budget deficit? 

#Parkin #11edition #FiscalPolicy #Chapter30

Fiscal Policy

 

Calculation for Fiscal Policy

A country reports that its government outlays total $1.8 trillion and its receipts total $1.6 trillion. Does the country have a budget surplus or deficit and what is the surplus or deficit? 

#Parkin #11edition #FiscalPolicy #Chapter30

Fiscal Policy

What is the difference between budget surplus, budget deficit and a balanced budget? Which of these three budget outcomes is currently the case in the United States?

What is the difference between budget surplus, budget deficit and a balanced budget? Which of these three budget outcomes is currently the case in the United States?

 

#Parkin #11edition #FiscalPolicy #Chapter30

Fiscal Policy