Over the past year, Ionia's money supply increased by $3 billion, $2billion in bonds were sold to the public, an unused military base was sold for $4 billion, and the government spent $20 billion. Ionia had a budget a. deficit. b. surplus. Determine the amount of Ionia's budget deficit or surplus. $ ____ billion Determine the amount of Ionia's tax revenue for the year. $____ billion
Over the past year, Ionia's money supply increased by $3 billion, $2billion in bonds were sold to the public, an unused military base was sold for $4 billion, and the government spent $20 billion. Ionia had a budget a. deficit. b. surplus. Determine the amount of Ionia's budget deficit or surplus. $ ____ billion Determine the amount of Ionia's tax revenue for the year. $____ billion
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter30: Government Budgets And Fiscal Policy
Section: Chapter Questions
Problem 51P: A government starts off with a total debt of $3.5 billion. In year one, the government runs a...
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Over the past year, Ionia's money supply increased by $3 billion, $2billion in bonds were sold to the public, an unused military base was sold for $4 billion, and the government spent $20 billion.
Ionia had a budget
a. deficit.
b. surplus.
Determine the amount of Ionia's budget deficit or surplus.
$ ____ billion
Determine the amount of Ionia's tax revenue for the year.
$____ billion
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