Question
Suppose a country has a national debt of $18,000 billion, a GDP of $20,000 billion. Assume the nation runs a budget surplus of $200 billion
Suppose a country has a national debt of $18,000 billion, a GDP of $20,000 billion. Assume the nation runs a budget surplus of $200 billion one year followed by an annual deficit of $1,100 billion the next year.
Calculate the national debt at the end of Year 1 and the end of Year 2.
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Managerial Economics and Business Strategy
Authors: Michael Baye, Jeff Prince
8th edition
9780077802615, 73523224, 77802616, 978-0073523224
