Macroeconomics Chapter 13 Assignments References Mailings Review View :- , ?,?,?
ID: 1152170 • Letter: M
Question
Macroeconomics Chapter 13 Assignments References Mailings Review View :- , ?,?,??? Year Government TaxGovernment expenditures Revenues (billions) 2300 2600 2200 2500 billions) 2500 2500 2700 2500 2000 4. Using the above table for Sueppelvania's federal government, a. Calculate the budget balance for each year. Include for each vear f'itisa budget defict, budge surplus, or balanced budget and the magnitude. b. If Sueppeivania started year 1 with s500 billion of debt, what is the amount of debt following year 5?Explanation / Answer
a.
Year
Government Tax Revenues
Government Expenditures
-Deficit/+Surplus
with 500 billion debt
1
2300
2500
-200
-700
2
2600
2500
100
-400
3
2200
2700
-500
-1000
4
2500
2500
0
-500
5
2100
2000
100
-400
b. The debt following year 5 is -$400 billion
Year
Government Tax Revenues
Government Expenditures
-Deficit/+Surplus
with 500 billion debt
1
2300
2500
-200
-700
2
2600
2500
100
-400
3
2200
2700
-500
-1000
4
2500
2500
0
-500
5
2100
2000
100
-400
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