Based on the forecasts in the following table, what is the country's budget balance expected to be in year 3? don't forget to include a negative sign (with no spaces in your answer).
Based on the forecasts in the following table, what is the country's budget balance expected to be in year 3? don't forget to include a negative sign (with no spaces in your answer).
Chapter12: Federal Budgets And Public Policy
Section: Chapter Questions
Problem 4.9P
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Question
7.
![The Department of Finance has developed forecasts for a country's real GDP, debt and budget balance for 5 years. Assume that
there are no debt charges (interest paid on debt)
Based on the forecasts in the following table, what is the country's budget balance expected to be in year 3? If a budget deficit,
don't forget to include a negative sign (with no spaces in your answer).
Year Budget Surplus Budget Deficit Debt Real GDP Debt as % of Real GDP
1
205 700
14
725
3
323 730
4
8
$Million
Enter numeric value
2.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F68398820-49e8-4507-8036-9f79f7e1249f%2F97891e69-cf97-4b38-9ef0-dff3cd2dda1f%2F1qpxdb5_processed.png&w=3840&q=75)
Transcribed Image Text:The Department of Finance has developed forecasts for a country's real GDP, debt and budget balance for 5 years. Assume that
there are no debt charges (interest paid on debt)
Based on the forecasts in the following table, what is the country's budget balance expected to be in year 3? If a budget deficit,
don't forget to include a negative sign (with no spaces in your answer).
Year Budget Surplus Budget Deficit Debt Real GDP Debt as % of Real GDP
1
205 700
14
725
3
323 730
4
8
$Million
Enter numeric value
2.
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