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?

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter12: Federal Budgets And Public Policy
Section: Chapter Questions
Problem 3.7P
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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?
Transcribed Image Text: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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