Answered: increased by $5 billion, $6 billion in…

increased by $5 billion, $6 billion in bondS were sold to the public, an unused military base was sold for $1 billion, and the government spent $20 billion. lonia had a budget deficit. surplus.

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

Over the past year, lonia's money supply
increased by $5 billion, $6 billion in bonds
were sold to the public, an unused military
base was sold for $1 billion, and the
government spent $20 billion.
lonia had a budget
deficit.
surplus.
Determine the amount of lonia's budget
deficit or surplus.
$ billion
Determine the amount of lonia's tax
revenue for the year.
$ billion

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