Economics

posted by .

1. What is the % of GDP is the national debt?

My Answer: The percentage of GDP is national debt is approx. 77%. Is this correct?

I went and used the latest figure of Real GDP which was the third quarter of 2006 being \$11,443,000,000,000.50, which came from the Economic Report of the President “Transmitted to the Congress February 2007.”

I used the current national debt as of May 4, 2007 being \$8,816,009,655,724.63 which that information comes from the TreasuryDirect’s website.

Thank you for using the Jiskha Homework Help Forum. You might like the following site:

http://zfacts.com/p/318.html

Well, Sarah, you are definately on the right track. And you went to the right sources. However, you made some small errors which need to be fixed.

First, in the Economic Report, you used Real GDP, which expresses GDP in real 2000 dollars. I suggest you use the nominal GNP figure (on the preceeding page). As of the 3rd quarter, the 2006 Nominal GNP is \$13,332.6 Billion. (BTW, the .6 means \$600 million, not 60 cents.)

You used a 2007 nominal dollar debt figure. To be consistent, the years should match.

The Economic Report also lists the national debt in nominal dollars. The national debt in 2006 was \$8451.4 billion. (I would guess the figure is the estimated debt at the end of the 2006 Federal Fiscal year).

So the percentage of GDP I get is 63%.

Similar Questions

1. Economics

What is the % of GDP is the national debt?
2. Macroeconomics

The following calculations help you see how the ratio of debt to GDP changes from one year to the next. Suppose that in a hypothetical country with a currency called the ducat, debt is equal to 140 trillion ducats and GDP is equal …
3. college-economics

The gross national debt initially is equal to \$3 trillion and the federal government then runs a deficit of \$300 billion: total 5 questions. Confused, believe gross debt = all fed govt debt What is the new level of gross national debt?
4. macroeconomics

Year - 2000 Nominal GDP: 9,817 Real GDP: ___________ GDP Deflator: 1 Inflation 2.2 Real GDP Per capita: _________ Population 283.7 Year – 2001 Nominal GDP: ________ Real GDP: 9,891 GDP Deflator: _________ Inflation 2.4 Real GDP Per …
5. College Econ

The gross national debt initially is equal to \$2.5 trillion and the federal government then runs a defict of \$100 billion: 1. What is the new level of gross national debt?

I cannot figure this our for the life of me!Assume that the gross national debt initially is equal to \$3 trillion and the federal government then runs a deficit of \$300 billion. What is the new level of gross national debt?
7. Economics

Assume that the gross national debt initially is equal to \$3 trillion and the federal government then runs a deficit of \$300 billion. i. What is the new level of gross national debt?
8. Macroeconomics

If GDP increases by 5 percent in the same that the deficit is run, What happens to gross debt as a percentage of GDP?
9. economics

What are the following variables used for in economics: Nominal GDP, Real GDP, GDP Deflator and CPI?
10. macroeconomics

b. Now suppose that the gross national debt initially is equal to \$2.5 trillion and the federal government then runs a deficit of \$100 billion: i. What is the new level of gross national debt?

More Similar Questions