(Table 2: Macroeconomic Data for Macroland) Table 2 Provides 2018

question 17

Multiple Choice

(Table 2: Macroeconomic Data for Macroland) Table 2 provides 2018 macroeconomic data for Macroland. How would the 2018 government budget in Macroland be described?
$\begin{array}{l}\text { Table 2: Macroeconomic Data for Macroland, } 2018 \text { (billions of dollars) }\\\begin{array}{|c|c|c|c|c|c|c|}\hline \text { C } \quad \quad \quad & \text { I } \quad \quad \quad & \text { G } \quad \quad & \text { EX } \quad \quad & \text { IM } \quad \quad & \text { T } & \text { Total income } \\\hline \$ 600 & \$ 250 & \$ 300 & \$ 200 & \$ 150 & \$ 280 & \$ 1,200 \\\hline\end{array}\end{array}$

• A) balanced budget
• B) surplus of $20 billion
• C) deficit of $20 billion
• D) debt of $300 billion

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Definitions:

Workers

Individuals engaged in any form of work either for wages, salary, or as independent contractors.

Product Price

The amount of money charged for a product or service, which can be influenced by production cost, supply and demand, and market competition.

Resource

An asset or material that can be used to produce goods or services and achieve economic goals.

Produced

Refers to goods or services that have been manufactured, created, or brought forth through a combination of resources and labor.