Use the following information to answer questions 1 and 2 Assume the national debt equals $0...

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Use the following information to answer questions 1 and 2 Assume the national debt equals $0 prior to Year 1. Government Spending Transfer Payments Tax Revenue (QA) bo Year 1 $500 $200 $900 Year 2 $600 $200 $800 Year 3 delin $600 $300 426003 DOS VE$800 bremsb.1125 Year 4 $700 $300 900 $900 Year 5 $700 $400 $1000 Year 6 $800 Tento $400 $1000 Year 7 $800 $500 $1000 1. What is the federal budget position in year 5? 2. What is the value of the national debt at the end of year 7? Use the following information to answer questions 1 and 2 Assume the national debt equals $0 prior to Year 1. Government Spending Transfer Payments Tax Revenue (QA) bo Year 1 $500 $200 $900 Year 2 $600 $200 $800 Year 3 delin $600 $300 426003 DOS VE$800 bremsb.1125 Year 4 $700 $300 900 $900 Year 5 $700 $400 $1000 Year 6 $800 Tento $400 $1000 Year 7 $800 $500 $1000 1. What is the federal budget position in year 5? 2. What is the value of the national debt at the end of year 7?