Answered: Suppose the stock of government debt in…

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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Suppose the stock of government debt in Canada at the end of one fiscal year is $482 billion. If the stock of debt rises to $501 billion by the end of the next fiscal year, then we know that in that year

A. the government had a primary budget deficit of $19 billion.

B. the government had a primary budget surplus of $19 billion.

C. the government had an overall budget deficit of $19 billion.

D. the government had an overall budget surplus of $19 billion..

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