In 2010 Planet Ming has a national debt of $4,655 Mangs. The GDP in 2011 for Pla

Question

In 2010 Planet Ming has a national debt of $4,655 Mangs. The GDP in 2011 for Plant Ming was 12,250 billion Mangs. a) What is the value of the public debt/GDP ratio for Planet Ming? b) If the nominal interests rate if 5%, what is the amount of interest paid and the percentage of GDP? (closest Dollar) c) If the government issues new debt to cover the interest on the debt, the new debt level in 2013 will be: d) If GDP grows by 3.5% in 2013, the new GDP level is: e) The new ratio of debt to GDP in 2013 is:

Explanation / Answer

a) What is the value of the public debt/GDP ratio for Planet Ming?

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