Thank you for visiting Suppose that U S debt is 8 trillion at the beginning of the fiscal year During the fiscal year government spending and government transfers are. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
If suppose that u.s. debt is $8 trillion dollars at the beginning of the fiscal year, at the end of the fiscal year, the debt is $8 trillion. So, correct option is C.
The calculation of the new debt at the end of the fiscal year can be done by subtracting the tax revenues from the government spending and transfers, and then adding the result to the initial debt. Thus, the calculation is as follows:
New Debt = Initial Debt + Government Spending - Tax Revenues
New Debt = $8 trillion + $2 trillion - $2 trillion
New Debt = $8 trillion
The new debt is equal to the initial debt since the government spending and transfers are equal to the tax revenues. This means that the government did not increase its debt during the fiscal year.
Therefore, the correct answer is (c) $8 trillion.
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