Question
Which of the following statements are true about deficits versus debt? The current year deficit can be subtracted from the current year debt to find
Which of the following statements are true about deficits versus debt?
The current year deficit can be subtracted from the current year debt to find the previous year's deficit.
The sum of all debts equal the deficit.
If in year 1 the debt is $1 million and the deficit in year 2 in $200,000, the debt in year 2 is $800,000
If in year 4 the deficit is $2 million and in year 3 the debt is $50 million, the debt in year 4 is $48 million.
If in year 4 the debt is $40 million and the surplus in Year 5 is $4 million, then the debt in Year 5 is $44 million.
If in year 1 the debt is $5 million and in year 2 the surplus is $350,000, then the debt in year 2 is $4.65 million
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