If government has no debt initially but then has annual revenues of $1.5 billion for 10 years and annual expenditures of $1.6 billion for 10 years, then the government has a:

Question

Quizplus · Accepted Answer

The government is spending $100 million more than its revenue each year, resulting in an annual deficit of $100 million. Over 10 years, this accumulates to a total debt of $1 billion.

If Government Has No Debt Initially but Then Has Annual