Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN: 9781305971509
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 13, Problem 6CQQ
To determine
The relation of Government debt to GDP from 2008 to 2012.
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In a government budget the total expenditure is $64,000 billion and a total receipt excluding the borrowing is it $19,000 how much it is the fiscal deficit
Fiscal experts in the United States are most concerned about the country's:
Select one: a. risk of debt default. b. high ratio of debt to GDP. c. implicit liabilities. d. low ratio of debt to GDP.
When the government receipts are more than the government expenditure we call it as
Surplus budget
Deficit budget
which is correct?
Chapter 13 Solutions
Principles of Macroeconomics (MindTap Course List)
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- A government starts off with a total debt of $3.5 billion. In year one, the government runs a deficit of 400 million. In year two, the government runs a deficit of 1 billion. In year three, the government runs a surplus of 200 million. What is the total debt of the government at the end of year three?arrow_forwardUnder what general macroeconomic circumstances might a government use expansionary fiscal policy? When might it use contractionary fiscal policy?arrow_forwardIs Medicaid (federal government aid to low-income families and individuals) an automatic stabilizer?arrow_forward
- From the following data about a Government budget, find out (a) Revenue deficit, (b) Fiscal deficit, and (c) Primary deficit: Items (Rs. in crore) (i) Capital receipts net of borrowings 95 (ii) Revenue expenditure 100 (iii) Interest payments 10 (iv) Revenue receipts 80 (v) Capital expenditure 110arrow_forwardChina's government debt is $350 billion at the end of 2019 with a 2% inflation rate during the year. At the end of 2020 with an inflation of 5% during the year, the debt is $400 billion. a. what is the nominal deficit in 2020 in billions b.what is the real deficit in 2020 in billions c. what would nominal GDP need to grow by in 2020 to keep the debt to GDP ratio from changing?arrow_forwardPublic saving is positive when: a. there is a government budget deficit b. after-tax income of households and businesses is greater than consumption expenditures c.there is a government budget surplus d. the government's budget is balancedarrow_forward
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