Classify each hypothetical country as having a balanced budget, a budget deficit, or a budget surplus.

Balanced budget

Budget deficit

Budget surplus

Answer Bank

The country of Briar collects the same amount in taxes as the government spends every year.

Last year, the country of Dancistan collected $\backslash$$$2$ million in excise taxes and $\backslash (\backslash$$ $2\backslash )$ million in income taxes, and the government spent $\backslash$$$5$ million.

The country of Western Ivy spent $\backslash (\backslash$$ $20,000\backslash )$ last year and collected $\backslash (\backslash$$ $20,000\backslash )$ of tax revenue in the same year.

The country of Koalaopolis collected $\backslash (\backslash$$ $700\backslash )$ in income taxes and $\backslash$$$70$ in excise taxes in $2013.$ The government spent $\backslash (\backslash$$ $700\backslash )$ that year.