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The following is the data for a hypothetical island economy during a recent year All values are in billions of real dollars Assume that the island economy does not engage in trade with any other cou?
Jamaal360
The following is the data for a hypothetical island economy during a recent year. All values are in billions of real dollars. Assume that the island economy does not engage in trade with any other countries.
Gross Domestic Product $2,000
Net Taxes $400
Government Purchases $500
Planned Investment $300
Consumption $1,200
3.1. What is the status of the federal budget?
A. Surplus of $300 billion
B. Surplus of $100 billion
C. Deficit of $400 billion
D. Deficit of $100 billion
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