Calculate the amount of the government deficit

Reference no: EM13700927

Suppose government purchases amount is $3.5 trillion, transfer payments amount is $0.5 trillion, net interest payments are $0.25 trillion and tax revenue is valued at $2 trillion.

a) Calculate the amount of the government deficit;

b) Calculate the primary deficit.

Please show all work so I can see if I got the correct answer since my book won't show the answers.

Reference no: EM13700927

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