Answered: Based on the forecasts in the following…

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).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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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