opose the fictitious country of Islandia begins fiscal year 1 with no public debt. Tax revenues and government expenditures for the xt five years are shown in the table below. tructions: In parts a and b, enter your answers as a whole number. In part c, round your answer to 1 decimal place. Enter a positive mber for a surplus and a negative number (-) for a deficit. Calculate the deficit or surplus for each fiscal year and record it in the table below. Year 1 2 3 4 5 billion Tax Revenues, Billions $ 114 119 118 119 121 percent Government Expenditures, Billions $115 121 124 123 119 the end of fiscal year 5, what is the total public surplus or debt? Surplus or Deficit, Billions -1 -2 -6 4 2 appose GDP is $235 billion. What percent of GDP does the public debt represent?
opose the fictitious country of Islandia begins fiscal year 1 with no public debt. Tax revenues and government expenditures for the xt five years are shown in the table below. tructions: In parts a and b, enter your answers as a whole number. In part c, round your answer to 1 decimal place. Enter a positive mber for a surplus and a negative number (-) for a deficit. Calculate the deficit or surplus for each fiscal year and record it in the table below. Year 1 2 3 4 5 billion Tax Revenues, Billions $ 114 119 118 119 121 percent Government Expenditures, Billions $115 121 124 123 119 the end of fiscal year 5, what is the total public surplus or debt? Surplus or Deficit, Billions -1 -2 -6 4 2 appose GDP is $235 billion. What percent of GDP does the public debt represent?
Chapter23: Federal Deficits, Surpluses, And The National Debt
Section: Chapter Questions
Problem 4SQP
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