Suppose that the annual federal deficit is $350 billion. Gross Domestic Product
ID: 1103749 • Letter: S
Question
Suppose that the annual federal deficit is $350 billion. Gross Domestic Product 'GDP', a measure of the size of the economy is $14.5 trillion ($14,500 billion). Calculate the ratio between the deficit and GDP as a percentage rounded to one decimal place: Suppose that the annual federal deficit is $350 billion. Gross Domestic Product 'GDP', a measure of the size of the economy is $14.5 trillion ($14,500 billion). Calculate the ratio between the deficit and GDP as a percentage rounded to one decimal place:Explanation / Answer
The ratio between the deficit and GDP can be calculated by dividing annual federal deficit by the Gross Domestic Product 'GDP'.
= 350/14500*100 = 2.414 or 2.4 if expressed in percentage rounded to one decimal place
We can say that deficit is 2.4 percent of the GDP
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