Answer the next question using the following budget information for a hypothetical economy. All data are in billions of dollars.
Government Spending Tax Revenues GDP
Year 1 $800 $825 $4,000
Year 2 850 850 4,200
Year 3 900 875 4,350
Year 4 950 900 4,500
Year 5 1,000 925 4,600
In which year is there a balanced budget was deficit $75 billion?
