Homework Answers
- Did Singsville run a budget deficit or a budget surplus
in 2017 ?
Answer - Deficit
Explanation- Total expenditures($14000) were more than total revenue($10000),even though GDP increased. Hence, there was a budget deficit of $4000. - What was Singsville's Debt-GDP ratio, expressed as a %
at the end of 2017.
- (Total Debt / Total GDP of Singsville) * 100
- ( (Total Debt in 2016 + Total Debt in 2017) / ( GDP in 2017) ) * 100
- ( ( 1000 + 4000 ) / (44000) ) * 100
- 11.36 %
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