Suppose in 2009, country X had tax revenues of $550 billion and government expenditures of $700 billion. In addition, at the end of 2008, its national debt was $6.5 trillion. In 2009, country X had a _____ and at the end of 2008, a public debt of _____.

Question

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Country X had a deficit of $150 billion in 2009 because expenditures exceeded tax revenues by $150 billion. The national debt at the end of 2008 was $6.5 trillion, and with the 2009 deficit, it increased to $6.65 trillion.

Suppose in 2009, Country X Had Tax Revenues of $550