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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 7
At the end of 2011, the government of China's debt was ¥12.2 trillion. (¥ is yuan, the currency of China). In 2012, the government spent ¥12.7 trillion and ended the year with a debt of ¥11.6 trillion. How much did the government receive in tax revenue in 2012How can you tell?
Explanation
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Deficit budget occurs when government sp...
Macroeconomics 11th Edition by Michael Parkin
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