Suppose That at the Start of Fiscal Year 2015 the Government

question 87

Multiple Choice

Suppose that at the start of fiscal year 2015 the government had a debt of $6220 billion.Suppose that during the same fiscal year,real GDP grew by about 3 percent and inflation was about 1 percent.What is the largest deficit the government could have run without raising the debt-to-GDP ratio?

• A) about $122 billion
• B) about $184 billion
• C) about $249 billion
• D) about $375 billion

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Definitions:

Responsible

Having an obligation to do something, or having control over or care for someone, as part of one's job or role.

Locus Of Control

a psychological concept that describes individuals’ perception of the control they have over events in their lives, categorized as either internal (believing they have control) or external (believing control is outside of their influence).

Control Events

Specific actions, decisions, or interventions designed to influence or manage outcomes in various contexts.

Intellectual Openness

A predisposition towards being open to new experiences, ideas, or knowledge, and a willingness to consider them thoughtfully and critically.