Macroeconomics 9th Edition by David Colander

Exercise 30

Assume a country's nominal GDP is $600 billion, government expenditures less debt service are $145 billion, and revenue is $160 billion.he nominal debt is $360 billion.nflation is 3 percent and interest rates are 6 percent.
a.alculate debt service payments.
b.alculate the nominal deficit.
c.alculate the real deficit.