Use the following data for the next two questions:
|
Year
|
Net Taxes (in millions of dollars)
|
Government Purchases (in millions of dollars)
|
|
2010
|
$2.0
|
$ 2.3
|
|
2011
|
3.0
|
3.1
|
|
2012
|
3.2
|
3.0
|
|
2013
|
2.9
|
3.0
|
|
2014
|
3.2
|
2.9
|
1. Suppose the national debt is $47 million at the end of 2009. Assume that all surpluses go to retiring federal debt. Then, what is the national debt at the end of 2014?
2. Less than $44 million
3. Between $44 million and $46 million
4. Between $46 million and $48 million
5. Between $48 million and $50 million
6. Greater than $50 million
2. During which of the above years is public savings positive?
1. None of them
2. 2012 and 2014
3. 2010, 2011, and 2013
4. All of them