Answer the next question using the following budget information for a hypothetical economy. All data are in billions of dollars. Also assume that all budget surpluses are used to pay down the public debt. Government Spending Tax Revenues GDP Year 1 $800 $825 $4,000 Year 2 850 850 4,200 Year 3 900 875 4,350 Year 4 950 900 4,500 Year 5 1,000 925 4,600 Assume that year 1 is the first year for this economy and year 5 is the current year. What is the public debt in this economy at year 5? rev: 06_21_2018 Multiple Choice $25 billion $75 billion $125 billion $925 billion

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