Calculate the real deficit or surplus in the following cases: a. Inflation is 11 percent. Debt is $1 trillion. Nominal deficit is $90 billion. Instructions: Round your answer to the nearest whole dollar amount. $ billion. b. Inflation is 11 percent. Debt is $1 trillion. Nominal deficit is $150 billion. Instructions: Round your answer to the nearest whole dollar amount. $ billion. c. Inflation is - 5 percent. (Price levels are falling.) Debt is $300 billion. Nominal deficit is $40 billion. Instructions: Round your answer to the nearest whole dollar amount. $ billion. d. Inflation is 1 percent. Debt is $3 trillion. Nominal surplus is $50 billion. Instructions: Round your answer to the nearest whole dollar amount. $ billion.
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