A country has been in existence for only two years. In the first year, tax revenues were $1.0 million and outlays were $1.5 million. In the second year, tax revenues were $1.5 million and outlays were
$2) 0 million. At the end of the second year, the government had issued debt worth .
A) $2.5 million
B) $1 million
C) $3.5 million
D) $0.5 million
Correct Answer:
Verified
Q64: If the government runs a deficit, the
Q65: Q66: If the government has a balanced budget, Q67: When the government's outlays exceed its tax Q68: The difference between the government debt and Q70: If tax revenue equal $1.5 billion and
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