A country reports that its government outlays total 0.8 trillion ...

[clippers!]

A country reports that its government outlays total 0.8 trillion and its tax revenues total 0.6 trillion. Does the country have a budget surplus or deficit and what is the surplus or deficit?
 
  What will be an ideal response?

Question 2

Goods and services that we buy from firms in other countries are called our
 
  A) imports.
  B) exports.
  C) inputs.
  D) raw materials.
  E) obligations.

[ebe]

Answer to Question 1

The country has a budget deficit. The deficit equals 0.2 trillion.

Answer to Question 2

A

[clippers!]

Thank you

[ebe]

No problemo