$$\begin{array} { | l | l | l | }
\hline \text { Year } & \begin{array} { l }
\text { Government } \
\text { tax revenues } \
\text { (billions of } \
\text { dollars) }
\end{array} & \begin{array} { l }
\text { Government } \
\text { expenditures } \
\text { (billions of } \
\text { dollars) }
\end{array} \
\hline 1 & 240 & 240 \
\hline 2 & 250 & 245 \
\hline 3 & 260 & 255 \
\hline 4 & 300 & 320 \
\hline 5 & 325 & 340 \
\hline
\end{array}$$
-What is the amount of the surplus or deficit incurred in year 5 by the government shown in the above table?
A) $5 billion surplus
B) $325 billion surplus
C) $15 billion deficit
D) $35 billion surplus

Question

$$\begin{array} { | l | l | l | } 
\hline \text { Year } & \begin{array} { l } 
\text { Government } \
\text { tax revenues } \
\text { (billions of } \
\text { dollars) }
\end{array} & \begin{array} { l } 
\text { Government } \
\text { expenditures } \
\text { (billions of } \
\text { dollars) }
\end{array} \
\hline 1 & 240 & 240 \
\hline 2 & 250 & 245 \
\hline 3 & 260 & 255 \
\hline 4 & 300 & 320 \
\hline 5 & 325 & 340 \
\hline
\end{array}$$
-What is the amount of the surplus or deficit incurred in year 5 by the government shown in the above table?
A) $5 billion surplus
B) $325 billion surplus
C) $15 billion deficit
D) $35 billion surplus

Quizplus · Accepted Answer

The government's surplus or deficit is the difference between its tax revenues and its expenditures. In year 5, the government's tax revenues were $325 billion and its expenditures were $340 billion. Therefore, the government incurred a deficit of $340 billion - $325 billion = $15 billion.

-What Is the Amount of the Surplus or Deficit Incurred