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Year Expenditures Tax Revenues GDP 1 $ 360 $ 205 $ 3 comma 750 2 $...

Year Expenditures Tax Revenues GDP 1 $ 360 $ 205 $ 3 comma 750 2 $ 400 $ 235 $ 4 comma 250 3 $ 340 $ 255 $ 5 comma 050 4 $ 400 $ 275 $ 5 comma 450 Suppose that initially there is no public debt. Using the​ above table, the public debt as a percent of GDP in year 4 was nothing​%. ​(Enter your response rounded to one decimal​ place.)

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Answer #1

Year----------------Expenditure----------Tax Revenue-------------GDP----------------Budget ( Deficit/surplus)

1 ---------------------$ 360---------------------$205--------------------$ 3750--------------(-$155)

2----------------------$ 400---------------------$ 235-------------------$ 4250--------------(-$165)

3----------------------$ 340---------------------$ 255-------------------$ 5050--------------(-$85)

4----------------------$ 400---------------------$ 275-------------------$ 5450--------------(-$125)

TOTAL PUBLIC DEBT = (-155-165-85-125)= - $530

TOTAL PUBLIC DEBT SHOULD DECREASE BY $ 530

IN YEAR 4 PUBLIC DEBT AS PERCENT OF GDP DECREASE BY (530/5450) *100= 9.7 %

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