A Nation Has $6 Billion in Revenue in Year 1

question 68

Essay

A nation has $6 billion in revenue in year 1 and $7 billion in spending. In year 2, it has $8 billion in revenue and $10 billion in spending. In year 2, what is the national debt and what is the deficit, assuming the nation can borrow at 0 percent interest without paying on the principle?

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Definitions:

Ultimate Responsibility

The highest level of accountability for the outcomes of decisions and actions within an organization or project.

Departmentalization Scheme

The method an organization uses to segment its operations into specialized units or departments based on function, product, geography, or process.

Process Departmentalization

involves organizing a company's divisions or departments based on the production processes they perform, aiming to enhance efficiency and expertise in those processes.