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Suppose that a country has no public debt in year 1 but experiences a budget deficit of $80 billion in year 2, a budget surplus
Suppose that a country has no public debt in year 1 but experiences a budget deficit of $80 billion in year 2, a budget surplus of $20 billion in year 3, a budget surplus of $10 billion in year 4, and a budget deficit of $3 billion in year 5. The absolute size of public debt at the end of year 5 is $ | billion. (Enter your response as a whole number.) If real GDP in year 5 is $329 billion, the absolute size of public debt is |% of real GDP in year 5. (Enter your response rounded to one decimal place.)
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