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Answer :
Final answer:
Government budget balance involves surpluses and deficits, affecting the government debt over time.The correct option is 2) a deficit of $1.5 trillion.
Explanation:
Government budget balance refers to the state of a government's finances, where a surplus occurs when revenue exceeds expenditures, and a deficit happens when expenditures exceed revenue. To find the government debt after the described scenario, calculate the cumulative deficits and surpluses from the given years, starting with the initial debt.
- Initial debt = $3.5 billion
- Year 1: Deficit of $400 million
- Year 2: Deficit of $1 billion
- Year 3: Surplus of $200 million
By adding and subtracting the deficits and surpluses from the initial debt, the total debt at the end of year three can be calculated.The correct option is 2) a deficit of $1.5 trillion.
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