Year 1 2 3 4 5 Government Government tax revenues expenditures (billions of (billions of dollars) dollars) 240 240 250 245 260 255 300 320 325 340 What is the amount of the surplus or deficit incurred in year 5 by the government shown in the above table?

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Chapter23: Six Debates Over Macroeconomic Policy
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Question 8
Year
1
2
3
4
5
Government Government
tax revenues
expenditures
(billions of
dollars)
240
250
260
300
325
O 50
What is the amount of the surplus or deficit incurred in year 5 by the government shown in the above table?.
O $15 billion deficit
O $15 billion surplus
(billions of
dollars)
240
245
255
320
340
O $5 billion surplus
Transcribed Image Text:Question 8 Year 1 2 3 4 5 Government Government tax revenues expenditures (billions of dollars) 240 250 260 300 325 O 50 What is the amount of the surplus or deficit incurred in year 5 by the government shown in the above table?. O $15 billion deficit O $15 billion surplus (billions of dollars) 240 245 255 320 340 O $5 billion surplus
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