Based on the table and graph, explain how the country's rate of GPD growth has compared to its debt growth over time and what the implication is for the debt/gdp rati The table below shows, respectively, the debt/GDP ratio, nominal GDP (in billions of $), and the Federal debt, for the years2000-2021:Year2000200120022003200420052006200720082009201020112012201320142015201620172018201920202021Total Public(Federal) Debt asPercent of GDP55.6140754.9314556.6450658.7175460.1163860.8083061.4843862.0981767.1385580.9604488.9541893.9404198.36839100.05000101.42804100.75724104.56563103.23531104.43225105.19024124.15977123.05398GDO, Billions ofDollars, Annual10250.95210581.92910929.10811456.45012217.19613039.19713815.58314474.22714769.86214478.06715048.97015599.73216253.97016843.19617550.68818206.02418695.10619477.33720533.05821380.97621060.47423315.081Total Public Debt,Millions of Dollars56989315812865619161167280457345150792914084945998988542991353311723348133904381465662015990131168510001779983718344213195492012010715521443717224929862609856128677035 Below is the graph of the ratio of (Federal) Debt to GDP (everyone gray bars indicate a recession):FRED140Percent of GDP120100860920- Federal Debt: Total Public Debt as Percent of Gross Domestic Product19701975Shaded areas indicate U.S. recessions.1980198519901995Sources: OMB; St. Louis Fed20002005201020152020fred.stlouisfed.org

GDP is defined as the value of the final goods and services produced within the national boundaries…

Answered: Based on the table and graph, explain…

Based on the table and graph, explain how the country's rate of GPD growth has compared to its debt growth over time and what the implication is for the debt/gdp rati

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter30: Government Budgets And Fiscal Policy

Section: Chapter Questions

Problem 38CTQ: Why is spending by the U.S. government on scientific research at NASA fiscal policy while spending...

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Question

Based on the table and graph, explain how the country's rate of GPD growth has compared to its debt growth over time and what the implication is for the debt/gdp rati

The table below shows, respectively, the debt/GDP ratio, nominal GDP (in billions of $), and the Federal debt, for the years
2000-2021:
Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Total Public
(Federal) Debt as
Percent of GDP
55.61407
54.93145
56.64506
58.71754
60.11638
60.80830
61.48438
62.09817
67.13855
80.96044
88.95418
93.94041
98.36839
100.05000
101.42804
100.75724
104.56563
103.23531
104.43225
105.19024
124.15977
123.05398
GDO, Billions of
Dollars, Annual
10250.952
10581.929
10929.108
11456.450
12217.196
13039.197
13815.583
14474.227
14769.862
14478.067
15048.970
15599.732
16253.970
16843.196
17550.688
18206.024
18695.106
19477.337
20533.058
21380.976
21060.474
23315.081
Total Public Debt,
Millions of Dollars
5698931
5812865
6191611
6728045
7345150
7929140
8494599
8988542
9913533
11723348
13390438
14656620
15990131
16851000
17799837
18344213
19549201
20107155
21443717
22492986
26098561
28677035

Below is the graph of the ratio of (Federal) Debt to GDP (everyone gray bars indicate a recession):
FRED
140
Percent of GDP
120
100
8
60
9
20
- Federal Debt: Total Public Debt as Percent of Gross Domestic Product
1970
1975
Shaded areas indicate U.S. recessions.
1980
1985
1990
1995
Sources: OMB; St. Louis Fed
2000
2005
2010
2015
2020
fred.stlouisfed.org

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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