In 2050, the government has collected $10,227 billion in revenues from taxes but has spent $10,584 billion on government purchases and transfers. If the national debt was $60,604 billion in 2049, what will it be after 2050?
In 2050, the government has collected $10,227 billion in revenues from taxes but has spent $10,584 billion on government purchases and transfers. If the national debt was $60,604 billion in 2049, what will it be after 2050?
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter12: Fiscal Policy, Incentives, And Secondary Effects
Section: Chapter Questions
Problem 10CQ
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