Suppose that in 2011, Mexico's total government outlays were 657 billion pesos and total government revenue was 550 billion pesos. Calculate Mexico's budget surplus or deficit. Be sure to include a negative sign if appropriate. billion pesos Select the answer that best describes the impact that the surplus or deficit you calculated will have on Mexico's debt. Mexico's debt will rise by an amount equal to the size of the deficit O Mexico's debt will not change. OMexico's debt will fall by an amount equal to the size of the surplus

Question
Suppose that in 2011, Mexico's total government outlays were 657 billion pesos and total government revenue was
550 billion pesos. Calculate Mexico's budget surplus or deficit. Be sure to include a negative sign if appropriate.
billion pesos
Select the answer that best describes the impact that the surplus or deficit you calculated will have on Mexico's debt.
Mexico's debt will rise by an amount equal to the size of the deficit
O Mexico's debt will not change.
OMexico's debt will fall by an amount equal to the size of the surplus
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Transcribed Image Text

Suppose that in 2011, Mexico's total government outlays were 657 billion pesos and total government revenue was 550 billion pesos. Calculate Mexico's budget surplus or deficit. Be sure to include a negative sign if appropriate. billion pesos Select the answer that best describes the impact that the surplus or deficit you calculated will have on Mexico's debt. Mexico's debt will rise by an amount equal to the size of the deficit O Mexico's debt will not change. OMexico's debt will fall by an amount equal to the size of the surplus