Countrys public debt as a percentage of real gdp in year

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What price would I want to sell my 12 posters to my 12 friends if my first friend will buy it for $11 dollars, my second at $10 dollars, and so on until that 12th friend would get the poster for $0 dollars? (The price has to be the same for all 12 friends)Suppose that a country has no public debt in year 1 but experiences a budget deficit of $40 billion in year 2, a budget deficit of $20 billion in year 3, a budget surplus of $10 billion in year 4, and a budget deficit of $2 billion in year 5.

Instructions: Enter your answers as whole numbers. For the public debt, enter your answer as a positive number.

a. What is the absolute size of its public debt in year 5?   $____________ billion.

 

b. If its real GDP in year 5 is $104 billion, what is this country’s public debt as a percentage of real GDP in year 5? ___________percent.

Reference no: EM13694543

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