Question
At the beginning of 2005 Santa Clara's public debt was 9B euros. During this year, the public sector spent 3B euros in wages to public
At the beginning of 2005 Santa Clara's public debt was 9B euros. During this year, the public sector spent 3B euros in wages to public servants; transfers of 1.5B euros to the private sector, and tax revenues were 2B euros. If the interest rate was 5%, compute the value of Santa Clara's public debt by the beginning 2006.
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Macroeconomics
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
6th Canadian Edition
321675606, 978-0321675606
