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 total government debt was________ .
A) $2.5 million
B) $3.5 million
C) $1.0 million
D) $0.5 million
Correct Answer:
Verified
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