Suppose that a country has no public debt in year 1 but experiences a budget deficit of $ 40 billion in year 2, a budget surplus of $ 10 billion in year 3, and a budget deficit of $ 2 billion in year 4.
Instructions: Enter your answers as whole numbers. For the absolute size of its public debt, enter your answer as a positive number.
A) What is the absolute size of its public debt in year 4?
B). If its real GDP in year 4 is $ 104 billion, what is this country's public debt as a percentage of real GDP in year 4?