Economics Today, Student Value Edition (18th Edition) (Pearson Series in Economics)
18th Edition
ISBN: 9780133920642
Author: Roger LeRoy Miller
Publisher: PEARSON
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Chapter 14, Problem 2FCT
To determine
Logic behind selecting Net Public Debt to
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(Net Public Debt) What’s the level of net public debt (for federal, state, and local governments) relative to U.S. GDP? How does the U.S. measure compare with that of other major economies?
What are the consequences of a high Debt to GDP ratio for the economy?
In the beginning of the year, the economy has public debt (or national debt) of $470 million. This year, tax revenues collected by the government is $50 million and government outlays are $75 million. At the end of the year, this country has public debt (or national debt) of $____ million.
Chapter 14 Solutions
Economics Today, Student Value Edition (18th Edition) (Pearson Series in Economics)
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