Year Government Purchases Government Taxes Real GDP 1 452 238 5,245 2 448 238 5,940 Suppose there is no public debt before Year 1 and that net transfers are equal to zero. What is the public deficit as a percentage of GDP in Year 2? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.
Year Government Purchases Government Taxes Real GDP 1 452 238 5,245 2 448 238 5,940 Suppose there is no public debt before Year 1 and that net transfers are equal to zero. What is the public deficit as a percentage of GDP in Year 2? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.
Chapter17: Federal Deficits, Surpluses, And The National Debt
Section: Chapter Questions
Problem 7SQP
Related questions
Question
| Year | Government Purchases | Government Taxes | Real GDP |
| 1 | 452 | 238 | 5,245 |
| 2 | 448 | 238 | 5,940 |
Suppose there is no public debt before Year 1 and that net transfers are equal to zero. What is the public deficit as a percentage of GDP in Year 2? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.
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