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?
Chapter11: Fiscal Policy
Section: Chapter Questions
Problem 19E
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