Aplia Homework: Federal Budgets and Public Policy The following table contains approximate figures for gross domestic product (GDP) and the national debt in the United States for June 2001 and June 2010. The national debt represents the total amount of money owed by the federal government to holders of U.S. securities. All numbers are in trillions of dollars. Debt Held Outside Fed. Govt, and Fed. Total National Reserve GDP Debt Debt Held by Federal (Trillions of Dollars) (Trillions of Government Foreign Ownership U.S. Ownership Dollars) and Federal (Trillions of (Trillions of Dollars) Dollars) Reserve (Trillions of Dollars) 1.0 1.7 10.1 5.7 3.0 June 2001 4.6 4.0 4.6 June 2010 14.5 13.2 Source: "U.S. Treasury, Bureau of Economic Analysis." Publicly held debt is the portion of the national debt that is held outside the federal government and the Federal Reserve System. In June 2001, the publicly held debt as a percentage of total national debt was In June 2001, the percentage of the U.S. national debt held by foreigners was The fraction of the national debt held by foreigners will eventually need to be repaid to foreigners, thereby reducing the collective purchasing power of Americans. Between 2001 and 2010, the fraction of the national debt held by foreigners
Aplia Homework: Federal Budgets and Public Policy The following table contains approximate figures for gross domestic product (GDP) and the national debt in the United States for June 2001 and June 2010. The national debt represents the total amount of money owed by the federal government to holders of U.S. securities. All numbers are in trillions of dollars. Debt Held Outside Fed. Govt, and Fed. Total National Reserve GDP Debt Debt Held by Federal (Trillions of Dollars) (Trillions of Government Foreign Ownership U.S. Ownership Dollars) and Federal (Trillions of (Trillions of Dollars) Dollars) Reserve (Trillions of Dollars) 1.0 1.7 10.1 5.7 3.0 June 2001 4.6 4.0 4.6 June 2010 14.5 13.2 Source: "U.S. Treasury, Bureau of Economic Analysis." Publicly held debt is the portion of the national debt that is held outside the federal government and the Federal Reserve System. In June 2001, the publicly held debt as a percentage of total national debt was In June 2001, the percentage of the U.S. national debt held by foreigners was The fraction of the national debt held by foreigners will eventually need to be repaid to foreigners, thereby reducing the collective purchasing power of Americans. Between 2001 and 2010, the fraction of the national debt held by foreigners
Chapter12: Federal Budgets And Public Policy
Section: Chapter Questions
Problem 3.8P
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Transcribed Image Text:Aplia Homework: Federal Budgets and Public Policy
The following table contains approximate figures for gross domestic product (GDP) and the national debt in the United States for June 2001 and June
2010. The national debt represents the total amount of money owed by the federal government to holders of U.S. securities. All numbers are in
trillions of dollars.
Debt Held Outside Fed. Govt. and Fed.
Total National
Reserve
GDP
Debt
Debt Held by
(Trillions of
(Trillions of
Federal
Foreign Ownership
U.S. Ownership
Dollars)
Dollars)
Government
and Federal
(Trillions of
(Trillions of
Reserve
Dollars)
Dollars)
(Trillions of
Dollars)
3.0
1.0
1.7
June 2001
10.1
5.7
4.6
4.0
4.6
June 2010
14.5
13.2
Source: "U.S. Treasury, Bureau of Economic Analysis."
Publicly held debt is the portion of the national debt that is held outside the federal government and the Federal Reserve System. In June 2001, the
publicly held debt as a percentage of total national debt was
In June 2001, the percentage of the U.S. national debt held by foreigners was
The fraction of the national debt held by foreigners will eventually need to be repaid to foreigners, thereby reducing the collective purchasing power of
Americans. Between 2001 and 2010, the fraction of the national debt held by foreigners
The absolute level of the debt does not necessarily provide a clear indication of a nation's debt burden. Thus, economists often look at relative
measures of the national debt. One possible relative measure of the national debt is the federal debt held by the public (outside the federal
of GDP. Between 2001 and 2010, publicly
government and the Federal Reserve) as a percentage of GDP. In 2001, publicly held debt was
held debt as a percentage of GDP
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