Public debt is the sum of deficits and surpluses (negative deficits) over time. suppose that a country has no public debt in year 1 but experiences a budget deficit of $40 billion in year 1, a budget deficit of $20 billion in year 2, a budget surplus of $10 billion in year 3, and a budget deficit of $2 billion in year. what is the absolute size of its public debt in year 4?

$52 billion

Explanation:

Given:

No public debt in year 1

budget deficit of $40 billion in year 1

budget deficit of $20 billion in year 2

budget surplus of $10 billion in year 3

budget deficit of $2 billion in year

Now,

The public debt is the sum of deficits and surpluses over time.

The country started year 1 with no public debt,

Thus,

The country's debt at the end of year 4

= deficit year 1 + deficit year 2 - surplus year 3 + deficit year 4

= $40 + $20 - $10 + $2 billion

= $52 billion

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

agriculture and oil. natural resources, industry.