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Answer :
- Compare revenue and expenditure for each year.
- Identify years where expenditure exceeds revenue.
- List the years with a budget deficit.
- The years with a budget deficit are 2002, 2003, 2005, 2006, 2008, and 2010.
### Explanation
1. Analyzing the Problem
We need to identify the years in which the expenditure is greater than the revenue. Let's analyze the table provided.
2. Analyzing 2001
In 2001, Revenue = $8 trillion and Expenditure = $6 trillion. Since $8 > 6$, there is no deficit.
3. Analyzing 2002
In 2002, Revenue = $5 trillion and Expenditure = $7 trillion. Since $5 < 7$, there is a deficit.
4. Analyzing 2003
In 2003, Revenue = $8 trillion and Expenditure = $10 trillion. Since $8 < 10$, there is a deficit.
5. Analyzing 2004
In 2004, Revenue = $9 trillion and Expenditure = $7 trillion. Since $9 > 7$, there is no deficit.
6. Analyzing 2005
In 2005, Revenue = $15 trillion and Expenditure = $18 trillion. Since $15 < 18$, there is a deficit.
7. Analyzing 2006
In 2006, Revenue = $8 trillion and Expenditure = $10 trillion. Since $8 < 10$, there is a deficit.
8. Analyzing 2007
In 2007, Revenue = $6 trillion and Expenditure = $4 trillion. Since $6 > 4$, there is no deficit.
9. Analyzing 2008
In 2008, Revenue = $2 trillion and Expenditure = $4 trillion. Since $2 < 4$, there is a deficit.
10. Analyzing 2009
In 2009, Revenue = $7 trillion and Expenditure = $4 trillion. Since $7 > 4$, there is no deficit.
11. Analyzing 2010
In 2010, Revenue = $5 trillion and Expenditure = $9 trillion. Since $5 < 9$, there is a deficit.
12. Final Answer
The years with a budget deficit are 2002, 2003, 2005, 2006, 2008, and 2010.
### Examples
Understanding budget deficits is crucial for comprehending economic policies and their impact on society. For instance, governments often face decisions on whether to increase spending (expenditure) or cut taxes (revenue). Analyzing budget deficits helps policymakers make informed decisions about fiscal responsibility, debt management, and resource allocation. This knowledge is also valuable for citizens to evaluate government performance and advocate for sound economic strategies.
- Identify years where expenditure exceeds revenue.
- List the years with a budget deficit.
- The years with a budget deficit are 2002, 2003, 2005, 2006, 2008, and 2010.
### Explanation
1. Analyzing the Problem
We need to identify the years in which the expenditure is greater than the revenue. Let's analyze the table provided.
2. Analyzing 2001
In 2001, Revenue = $8 trillion and Expenditure = $6 trillion. Since $8 > 6$, there is no deficit.
3. Analyzing 2002
In 2002, Revenue = $5 trillion and Expenditure = $7 trillion. Since $5 < 7$, there is a deficit.
4. Analyzing 2003
In 2003, Revenue = $8 trillion and Expenditure = $10 trillion. Since $8 < 10$, there is a deficit.
5. Analyzing 2004
In 2004, Revenue = $9 trillion and Expenditure = $7 trillion. Since $9 > 7$, there is no deficit.
6. Analyzing 2005
In 2005, Revenue = $15 trillion and Expenditure = $18 trillion. Since $15 < 18$, there is a deficit.
7. Analyzing 2006
In 2006, Revenue = $8 trillion and Expenditure = $10 trillion. Since $8 < 10$, there is a deficit.
8. Analyzing 2007
In 2007, Revenue = $6 trillion and Expenditure = $4 trillion. Since $6 > 4$, there is no deficit.
9. Analyzing 2008
In 2008, Revenue = $2 trillion and Expenditure = $4 trillion. Since $2 < 4$, there is a deficit.
10. Analyzing 2009
In 2009, Revenue = $7 trillion and Expenditure = $4 trillion. Since $7 > 4$, there is no deficit.
11. Analyzing 2010
In 2010, Revenue = $5 trillion and Expenditure = $9 trillion. Since $5 < 9$, there is a deficit.
12. Final Answer
The years with a budget deficit are 2002, 2003, 2005, 2006, 2008, and 2010.
### Examples
Understanding budget deficits is crucial for comprehending economic policies and their impact on society. For instance, governments often face decisions on whether to increase spending (expenditure) or cut taxes (revenue). Analyzing budget deficits helps policymakers make informed decisions about fiscal responsibility, debt management, and resource allocation. This knowledge is also valuable for citizens to evaluate government performance and advocate for sound economic strategies.
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