Computing Surpluses, Deficits, and the Debt The following data is from the government of Macroland. Work in pairs to com

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Computing Surpluses, Deficits, and the
Debt
The following data is from the government of Macroland. Work in
pairs to complete the following exercises. (Note: All
data are in billions of dollars.)
Year
Tax revenue (T)
Government spending on goods & services
(G)
Transfer payments (TR)
2016
$2,000
$1,200
$600
2017
1,600
1,500
900
2018
1,700
1,400
700
2019
2,200
1,000
500
2020
2,400
1,600
800
1. Determine the value of the budget balance and indicate
whether there is a government surplus, deficit, or balance for each
year.
Year
Budget
(billions)
Status of
government budget(Surplus,
deficit,balanced)
2016
$
2017
2018
2019
2020
2. Determine the value of the government debt for the period
2016-2020.