Suppose that prior to 1998 the national debt of Utopia was $0. In 1998, the government incurred a deficit of $200 million. In 1999, 2000, and 2001 the government incurred a deficit of $180 million, $140 million, and $130 million, respectively. Currently, what is the national debt of Utopia?

Question

Quizplus · Accepted Answer

The national debt of Utopia is the sum of all the deficits incurred from 1998 to 2001. Adding the deficits for each year: $200 million + $180 million + $140 million + $130 million = $650 million.

Suppose That Prior to 1998 the National Debt of Utopia