The table shows the tax revenues and the outlays of a nation at each level of real GDP. What is the budget deficit when real GDP is​ $4 trillion?    ​>>> When you are asked to report a​ deficit, it is reported as a positive number. If you are asked to report the budget​ balance, and that balance is a​ deficit, then it is reported as a negative number. When real GDP is​ $4 trillion, the budget deficit is ​$nothing trillion.    ​>>> Answer to 1 decimal place. Real GDP Tax revenues Outlays ​(trillions of​ dollars) 3 0.1 0.5 4 0.2 0.4 5 0.3 0.3 6 0.4 0.2 7 0.5 0.1

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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The table shows the tax revenues and the outlays of a nation at each level of real GDP.
 
What is the budget deficit when real GDP is​ $4 trillion?
  
​>>> When you are asked to report a​ deficit, it is reported as a positive number. If you are asked to report the budget​ balance, and that balance is a​ deficit, then it is reported as a negative number.
When real GDP is​ $4 trillion, the budget deficit is
​$nothing
trillion.
  
​>>> Answer to 1 decimal place.
 
Real GDP
Tax revenues
Outlays
​(trillions of​ dollars)
3
0.1
0.5
4
0.2
0.4
5
0.3
0.3
6
0.4
0.2
7
0.5
0.1
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