The table below presents the tax revenue and government expenditures for a local government.Government Revenue and ExpendituresTax Revenue (millions of dollars)Property tax revenueSales tax revenueFederal grant revenueTotal$$12.09.56.0Government Expenditures (millions of dollars)Health and human services$7.2Infrastructure investment14.0Purchases of goods and services6.3TotalO The government has a budget surplus.O The government has a budget deficit.O The government has a balanced budget.$Instructions: Round your answers to one decimal place.a. Complete the table above by calculating the total revenue and total expenditures for the local government.b. Does the local government have a budget surplus, a budget deficit, or a balanced budget?

A budget surplus refers to the excess tax revenue generated over government expenditure. A budget…

The table below presents the tax revenue and government expenditures for a local government. Government Revenue and Expenditures Tax Revenue (millions of dollars) Property tax revenue Sales tax revenue Federal grant revenue Total $12.0 9.5 6.0 Government Expenditures (millions of dollars) Health and human services Infrastructure investment Purchases of goods and services Total O The government has a budget surplus. O The government has a budget deficit. O The government has a balanced budget. $ $7.2 14.0 6.3 Instructions: Round your answers to one decimal place. a. Complete the table above by calculating the total revenue and total expenditures for the local government. b. Does the local government have a budget surplus, a budget deficit, or a balanced budget?

The table below presents the tax revenue and government expenditures for a local government. Government Revenue and Expenditures Tax Revenue (millions of dollars) Property tax revenue Sales tax revenue Federal grant revenue Total $12.0 9.5 6.0 Government Expenditures (millions of dollars) Health and human services Infrastructure investment Purchases of goods and services Total O The government has a budget surplus. O The government has a budget deficit. O The government has a balanced budget. $ $7.2 14.0 6.3 Instructions: Round your answers to one decimal place. a. Complete the table above by calculating the total revenue and total expenditures for the local government. b. Does the local government have a budget surplus, a budget deficit, or a balanced budget?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter11: Fiscal Policy

Section: Chapter Questions

Problem 19E

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Similar questions

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