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Suppose that the government runs a budget deficit of $75 billion in year 1. Assume that the year began with a national debt of $25
Suppose that the government runs a budget deficit of $75 billion in year 1. Assume that the year began with a national debt of $25 billion. In year 2 the government ran a budget surplus of $50 billion. In year 3, the government spent $100 billion more than it collected in taxes. The debt is 33 I: billion. (Enter a number in the blank. Do not add any units to your answer.)
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