Question

The table shows the federal government’s budgeted revenue and expenditures from 2001 through 2010. Identify the years in which there was a budget surplus.

Answer 1

The years that have excess funds are in 2001, 2004, 2007, 2009

Step-by-step explanation:

The explanation is on the table

Formula: Income - Expenditures = Strength / Loss

In 2001,

Income: $ 8 Trillion

Expenditures: $ 6 Trillion

$ 8 Trillion - $ 6 Trillion = $ 2 Trillion

In 2004,

Income: $ 9 Trillion

Expenditures: $ 7 Trillion

$ 9 Trillion - $ 7 Trillion = $ 2 Trillion

In 2007,

Income: $ 6 Trillion

Expenditures: $ 4 Trillion

$ 6 Trillion - $ 4 Trillion = $ 2 Trillion

In 2009,

Income: $ 7 Trillion

Expenditures: $ 4 Trillion

$ 7 Trillion - $ 4 Trillion = $ 3 Trillion

Answer 2

Answer and Explanation:

The correct answer is: the years 2001, 2004, 2007 and 2009.

The table mentioned in the question was missing, so I attached it here.

A budget surplus refers to when the revenue (in this case the government's budgeted revenue) surpasses the expenditure in a given period of time, such as over the span of one year. From the attached table, we can see that in these years, the revenue was higher than the expenditure, therefore, resulting in a budget surplus.

1. 2001- the budget surplus was $2 trillion (8 trillion- 2 trillion)

2. 2004- the budget surplus was $2 trillion (9 trillion- 7 trillion)

3. 2007- the budget surplus was $2 trillion (6 trillion- 4 trillion)

4. 2009- the budget surplus was $3 trillion (7 trillion- 4 trillion)