Suppose that a country has no public debt in year 1 but experiences a budget deficit of $50 billion in year 2, a budget deficit of $30 billion in year 3, a budget surplus of $20 billion in year 4, and a budget deficit of $2 billion in year 5.
1) what is the absolute size of its public debt in year 5? $ billion
instructions: enter a value for the surplus or deficit as a whole number. do not include a plus or minus sign.
2) if its real gdp in year 5 is $104 billion, what is this country
Answers: 3
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Suppose that a country has no public debt in year 1 but experiences a budget deficit of $50 billion...
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