(Choose 1 answer)
(17856) In examining the national income accounts of the closed economy of Nepotocracy you see that this year it had taxes of $100 billion, government transfers of $40 billion, and government purchases of goods and services of $80 billion. You also notice that last year it had private saving of $50 billion and investment of $70 billion. In which year did Nepotocracy have a budget deficit of $20 billion?
A. this year and last year
B. this year but not last year
C. last year but not this year
D. neither this year nor last year
Exit 35
