Suppose that a country has no public debt in year 1 but experiences a budget def

Question

Suppose that a country has no public debt in year 1 but experiences a budget deficit of $50 billion in year 2, a budget deficit of $30 billion in year 3, a budget surplus of $20 billion in year 4, and a budget deficit of $2 billion in year 5.

1) What is the absolute size of its public debt in year 5? $___________ billion
Instructions: Enter a value for the surplus or deficit as a whole number. Do not include a plus or minus sign.   

2) If its real GDP in year 5 is $104 billion, what is this country

Explanation / Answer

1 ) $62

2) 59.65%

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