In 2019, the government collected $550 billion in taxes and the government had a $120 billion budget deficit. How much did the government spend in 2019? Select one: a. $430 billion b. $470 billion c. $520 billion d. $570 billion e. $670 billion

In 2019, the government collected $550 billion in taxes and the government had a $120 billion budget deficit. How much did the government spend in 2019? Select one: a. $430 billion b. $470 billion c. $520 billion d. $570 billion e. $670 billion

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter11: Managing Aggregate Demand: Fiscal Policy

Section11.B: Algebraic Treatment Of Taxes And Fiscal Policy

Problem 3TY

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Question

In 2019, the government collected $550 billion in taxes and the government had a $120 billion budget deficit. How much did the government spend in 2019?

Select one:

a. $430 billion

b. $470 billion

c. $520 billion

d. $570 billion

e. $670 billion

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