Homework Answers
Solution:-
Public Debt is the Cumulative national budget deficits and
Surplus.
The absolute size of public debt is the total public Debt, is shown
Below:
Public debt in year 4 ($ Billion) = Budget deficit in year 1 +
Budget deficit in year 2 - Budget surplus in year 3 + Budget
deficit in year 4
=$40+$20-$10+$2
=$62-$10
Public debt in year 4 ($ Billion)=$52
The relative size of public Debt is Calculated below:
Public debt as % of GDP = (Public debt / GDP) x 100
=(52/104)*100
=0.5*100
Public debt as % of GDP=50%
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