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Question 1

Suppose that the amount of taxes in Canada is equal to 1300. Suppose that the government expenditures are equal to 2000 (All numbers in billions of domestic currency)

Given this data, what can you say about Canada's budget?

 

Suppose that the amount of taxes in the US is equal to 1700. Suppose that the government expenditures are equal to 1100 (All numbers in billions of domestic currency)

Given this data, what will happen to the US's national debt?

 

Suppose that the amount of taxes in Japan is equal to 1700. Suppose that the government expenditures are equal to 1600 (All numbers in billions of domestic currency)

Given this data, what can you say about Japan's budget? What is the size of Japan's surplus?

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