Suppose a country currently has a total debt of $13 million. If its GDP in the current year is $7 million and the interest rate% of its current GDP. Round your answer, given as acharged on its debt is 3% per year, the debt charges represent_percent, to 2 decimal places.%

Debt = 7% of 13 million = (7/100)*13000000 = 910000 Now we have to find out how much percent is…

Suppose a country currently has a total debt of $13 million. If its GDP in the current year is $7 million and the interest rate charged on its debt is 3% per year, the debt charges represent_ percent, to 2 decimal places. _% of its current GDP. Round your answer, given as a

Suppose a country currently has a total debt of $13 million. If its GDP in the current year is $7 million and the interest rate charged on its debt is 3% per year, the debt charges represent_ percent, to 2 decimal places. _% of its current GDP. Round your answer, given as a

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter31: The Impacts Of Government Borrowing

Section: Chapter Questions

Problem 7RQ: Based on the national saving and investment identity, what are the three ways the macroeconomy might...

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Question

Suppose a country currently has a total debt of $13 million. If its GDP in the current year is $7 million and the interest rate
% of its current GDP. Round your answer, given as a
charged on its debt is 3% per year, the debt charges represent_
percent, to 2 decimal places.
%

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