Copy of National Debe Spreadsheet()-Exce Insert Page Layout Formulas Data Rviw V
ID: 2429092 • Letter: C
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Copy of National Debe Spreadsheet()-Exce Insert Page Layout Formulas Data Rviw View ACROBAT Tellme what you want to de. Normal 2 Copy Neutral insert Delete Form ormaltting Table Alignment 1 GENERAL ECONOMIC FIGURES No Debt Interest Rate Growth Rate No Unemployment New Personal Tax Rate Wipe Out Debt National Debt Interest Rate 2350 2350 0.072 0 072 0 07 0.12 0.03 0.072 0 07 012 12 0.03 0 03 0 0r2 0.07 0 072 0 072 0 07 5 Personal Tax Rate 0 12 0.03 Growth Rate 0 03 0.03 GOVERNMENT EXPENDITURES Delense Spending O Interest Spending 5169 20 50.000.00$169 20 $169 20 S0 00 T0 $169 20 $169 20 119 00 70 Social Securty & Medicare $119 00 11900 $119 00 $119 00 $119 00 13. Heath. Edcation. & Transponation 10 70 90 $1 003 20 34 00 834 00 $1.003 20 $884 20 1,003 20 $1,003 20 GOVERNMENT RIEVENUES Personal Income Tax 5360 00 271 36000 $360 00 5360 00 $360 00 271 630 30 53,084 60 271 271 D Corporat c Tax Other Incema 71 776 00 799 20 743 33 776 00 $77600 $776 00 799 28 5799 28 5853 60 743 33 $743.33 793 85 S776.00 $799 28 799 28 1.046 30 1,07769 1,002 25 $3.500 60 $3,605 62 3,353 22 TOTALS 3259 87 2,609 8 84 92 $9067 52 440 67 $2 559 35$2 434 2 50 95 2,350 95 52.350 02 30 02Explanation / Answer
Debt at the beginning of a year = $0
Total government expenditure during the given year = $834
Total income of the government during the year = $743.33
So, deficit at the end of year = $834 - $743.33
= $90.67
The deficit, at the end of the year is added to the debt so that we have debt at the end as = $0 + $90.67 = $90.67
# Note that this debt is less than the what it is for the year 1987, where debt at the beginning is not zero. Debt at the end of 1987 includes previous amount borrowed (Principal) plus interest on the amount.
##Also, keep in mind that the debt is a stock variable and deficit is a flow variable. So, deficit is nothing but the addition to the debt of the previous year.
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