Year 1 2 Government Purchases 304 459 Government Real GDP 5,131 5,405 Taxes 257 263 Suppose there is no public debt before Year 1 and that net transfers are equal to zero. What is the public debt as a percentage of GDP in Year 2? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Question
Year
1
2
Government Government Real
Purchases
GDP
304
5,131
459
5,405
Taxes
257
263
Suppose there is no public debt before Year 1 and that net
transfers are equal to zero. What is the public debt as a
percentage of GDP in Year 2? Answer this as a percentage and
round your answer to two digits after the decimal without the
percentage sign. ex. If you found the rate to be 5.125%, answer
5.13.
Transcribed Image Text:Year 1 2 Government Government Real Purchases GDP 304 5,131 459 5,405 Taxes 257 263 Suppose there is no public debt before Year 1 and that net transfers are equal to zero. What is the public debt as a percentage of GDP in Year 2? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.
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