Multiple Choice
Suppose that U.S. debt is $7 trillion at the beginning of the fiscal year. During the fiscal year, its purchases of goods and services and its transfers are $2 trillion, and tax revenues are $1.5 trillion. At the end of the fiscal year, the debt is:
A) $10.5 trillion.
B) $6.5 trillion.
C) $9 trillion.
D) $7.5 trillion.
Correct Answer:
Verified
Correct Answer:
Verified
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