22.00020,00018,00016,000-14,000-12,00010,000W000-6000-40002000-0Gross Federal Debe (billions of dollars)(b)40020010.-200c) Who was president at that time?-400-600-7. How much is the deficit in 2022?-800--1000--1200--1400--16001. What is the difference between deficit and debt?3. What years saw a very small increase in debt?2. What is happening to the gross federal debt over time?4. When did the debt start rising at a quicker pace?Surplus or Deficit (billions of dollars)Positive valuesare serplusesNegative valuesare deficits.5. a) Between what years did the government see a surplus in their budget?b) How is that shown in the gross federal debt graph?(a)6. a) What year saw the biggest deficit?b) Who was president in that year?c) How do you think he lowered the deficit over the next few years?

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1. What is the difference between deficit and debt? 2. What is happening to the gross federal debt over time? 3. What years saw a very small increase in debt?

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: Six Debates Over Macroeconomic Policy

Section: Chapter Questions

Problem 6PA

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Question

22.000
20,000
18,000
16,000-
14,000-
12,000
10,000
W000-
6000-
4000
2000-
0
Gross Federal Debe (billions of dollars)
(b)
400
2001
0.
-200
c) Who was president at that time?
-400
-600-
7. How much is the deficit in 2022?
-800-
-1000-
-1200-
-1400-
-1600
1. What is the difference between deficit and debt?
3. What years saw a very small increase in debt?
2. What is happening to the gross federal debt over time?
4. When did the debt start rising at a quicker pace?
Surplus or Deficit (billions of dollars)
Positive values
are serpluses
Negative values
are deficits.
5. a) Between what years did the government see a surplus in their budget?
b) How is that shown in the gross federal debt graph?
(a)
6. a) What year saw the biggest deficit?
b) Who was president in that year?
c) How do you think he lowered the deficit over the next few years?

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