Thank you for visiting The table shows the federal government s budgeted revenue and expenditures from 2001 through 2010 Identify the years in which there was a budget deficit. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
- Analyze the provided table to compare revenue and expenditure for each year.
- Identify years where expenditure exceeds revenue, indicating a budget deficit.
- List the years with a budget deficit based on the comparison.
- The years with a budget deficit are $\boxed{2002, 2003, 2005, 2006, 2008, 2010}$.
### Explanation
1. Analyzing the Problem
We need to analyze the table provided to identify the years in which the expenditure was greater than the revenue. This indicates a budget deficit for those years.
2. Comparing Revenue and Expenditure for Each Year
Let's examine each year:
* **2001:** Revenue = $8 trillion, Expenditure = $6 trillion. Revenue > Expenditure (No deficit).
* **2002:** Revenue = $5 trillion, Expenditure = $7 trillion. Expenditure > Revenue (Deficit).
* **2003:** Revenue = $8 trillion, Expenditure = $10 trillion. Expenditure > Revenue (Deficit).
* **2004:** Revenue = $9 trillion, Expenditure = $7 trillion. Revenue > Expenditure (No deficit).
* **2005:** Revenue = $15 trillion, Expenditure = $18 trillion. Expenditure > Revenue (Deficit).
* **2006:** Revenue = $8 trillion, Expenditure = $10 trillion. Expenditure > Revenue (Deficit).
* **2007:** Revenue = $6 trillion, Expenditure = $4 trillion. Revenue > Expenditure (No deficit).
* **2008:** Revenue = $2 trillion, Expenditure = $4 trillion. Expenditure > Revenue (Deficit).
* **2009:** Revenue = $7 trillion, Expenditure = $4 trillion. Revenue > Expenditure (No deficit).
* **2010:** Revenue = $5 trillion, Expenditure = $9 trillion. Expenditure > Revenue (Deficit).
3. Identifying Years with Budget Deficit
Based on the analysis, the years with a budget deficit (Expenditure > Revenue) are 2002, 2003, 2005, 2006, 2008, and 2010.
4. Final Answer
The years in which there was a budget deficit are $\boxed{2002, 2003, 2005, 2006, 2008, 2010}$.
### Examples
Understanding budget deficits is crucial in personal finance as well as government budgeting. For example, if you consistently spend more than you earn, you're running a personal budget deficit, which can lead to debt. Similarly, governments use this analysis to manage national debt and plan for economic stability. Recognizing when deficits occur helps in making informed financial decisions and implementing corrective measures.
- Identify years where expenditure exceeds revenue, indicating a budget deficit.
- List the years with a budget deficit based on the comparison.
- The years with a budget deficit are $\boxed{2002, 2003, 2005, 2006, 2008, 2010}$.
### Explanation
1. Analyzing the Problem
We need to analyze the table provided to identify the years in which the expenditure was greater than the revenue. This indicates a budget deficit for those years.
2. Comparing Revenue and Expenditure for Each Year
Let's examine each year:
* **2001:** Revenue = $8 trillion, Expenditure = $6 trillion. Revenue > Expenditure (No deficit).
* **2002:** Revenue = $5 trillion, Expenditure = $7 trillion. Expenditure > Revenue (Deficit).
* **2003:** Revenue = $8 trillion, Expenditure = $10 trillion. Expenditure > Revenue (Deficit).
* **2004:** Revenue = $9 trillion, Expenditure = $7 trillion. Revenue > Expenditure (No deficit).
* **2005:** Revenue = $15 trillion, Expenditure = $18 trillion. Expenditure > Revenue (Deficit).
* **2006:** Revenue = $8 trillion, Expenditure = $10 trillion. Expenditure > Revenue (Deficit).
* **2007:** Revenue = $6 trillion, Expenditure = $4 trillion. Revenue > Expenditure (No deficit).
* **2008:** Revenue = $2 trillion, Expenditure = $4 trillion. Expenditure > Revenue (Deficit).
* **2009:** Revenue = $7 trillion, Expenditure = $4 trillion. Revenue > Expenditure (No deficit).
* **2010:** Revenue = $5 trillion, Expenditure = $9 trillion. Expenditure > Revenue (Deficit).
3. Identifying Years with Budget Deficit
Based on the analysis, the years with a budget deficit (Expenditure > Revenue) are 2002, 2003, 2005, 2006, 2008, and 2010.
4. Final Answer
The years in which there was a budget deficit are $\boxed{2002, 2003, 2005, 2006, 2008, 2010}$.
### Examples
Understanding budget deficits is crucial in personal finance as well as government budgeting. For example, if you consistently spend more than you earn, you're running a personal budget deficit, which can lead to debt. Similarly, governments use this analysis to manage national debt and plan for economic stability. Recognizing when deficits occur helps in making informed financial decisions and implementing corrective measures.
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