Econ

262Fultra%252Fcourses anying table gives budget information... Government Tax Spending Revenues GDP Year 1 $450 $425 $2, 000 Year 2 500 450 3,000 Year 3 600 460 4, 000 Year 640 620 5,000 Year 5 680 580 4 , 800 Year 6 600 620 5, 000 The accompanying table gives budget information for a hypothetical economy. Assume that all budget surpluses are used to pay down the public debt. The budget deficit in year 3 is Multiple Choice $140 billion. O O $1,060 billion. O $20 billion. O $60 billion