Government spending $515 Tax revenues Year 1 $400 Year 2 Year 3 459 442 529 482 Refer to the above data. If year 1 is the first year of this nation's existence and year 3 is the present year, how much is this nation's public debt?

Government spending $515 Tax revenues Year 1 $400 Year 2 Year 3 459 442 529 482 Refer to the above data. If year 1 is the first year of this nation's existence and year 3 is the present year, how much is this nation's public debt?

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

Government
spending
$515
Tax revenues
Year 1
$400
Year 2
459
442
Year 3
529
482
Refer to the above data. If year 1 is the first year of this nation's existence and year 3
is the present year, how much is this nation's public debt?

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