(Answered) 1 what is the difference between government expenditures

Economics

1. What is the difference between government expenditures and government purchases? How do the two variables differ in terms of their effect on GDP?

2. Suppose a country has a national debt of $5,000 billion, a GDP of $10,000 billion, and a budget deficit of $100 billion.

a. How much will its new national debt be?

b. Compute its debt-GDP ratio.

c. Suppose its GDP grows by 1% in the next year and the budget deficit is again $100 billion. Compute its new level of national debt and its new debt-GDP ratio.

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