For fiscal year 2006, the national debt of a country was approximately (8.302 x 1012) dollars. At that time, the number of citizens between the ages of 18 and 65 was known to be (3.5 x 10°). If the national debt of this country were divided evenly among these citizens, about how much debt would be assigned to each individual? (Enter your answer in standard form, rounded to two decimal places.) per person Tutorial

For fiscal year 2006, the national debt of a country was approximately (8.302 x 1012) dollars. At that time, the number of citizens between the ages of 18 and 65 was known to be (3.5 x 10°). If the national debt of this country were divided evenly among these citizens, about how much debt would be assigned to each individual? (Enter your answer in standard form, rounded to two decimal places.) per person Tutorial

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Consider an economy in which people spend 90 percent of each additional dollar of income they earn. If the government does easy (expansionary) fiscal policy via changing taxes by $2000, what will be the total effect on Y? Carefully follow all numeric instructions. Use a positive number (no sign) to show an increase in Y and a negative number (with negative sign) to show a decrease.
provide an assessment of the major requirements of the municipal budget and reporting regulations
How is the Social Security system currently influencing the size of the budget deficit? If it is not re-formed, how will Social Security influence the budget deficit a decade from now? Is this a cause for concern? Why or why not?
Year Government Purchases Government Taxes Real GDP 1 400 247 5,812 2 434 203 5,898 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.
The country of Aquilonia has a tax system identical to that of Canada. Suppose an Aquilonian bought a parcel of land for $10,000 in 1960 when the price index equalled 100. In 2019, the person sold the land for $100,000, and the price index equalled 500. If the person must pay 20 percent of any capital gain in taxes, what is the after-tax real capital gain (in 2019 dollars) on the land? $72,000 $32,000 O $6400 O $62,000
Find interest payments if :- Primary deficit = $23,000 Fiscal deficit = $31,000
Suppose the Malaysian net foreign debt is 50 percent of its GDP and foreign assets and liabilities pay an interest rate of 6 percent per year. What would be the drain on Malaysia GDP (as a percentage) from paying interest on the net foreign debt? Do you think this is a large number? What if the net foreign debt were 100 percent of GDP? At what point do you think a country's government should become worried about the size of its foreign debt?
Assume that at the end of 2021, the US government will have a 30 trillion (i.e. 30,000bn) dollars of existing debt. Also assume that the nominal interest rate is 7% and the inflation rate is 6%. (i) In 2022, the government decides to stabilize the debt (at 30 trillion USD). Compute the size of a primary surplus that the government must run to achieve debt stabilization. (Express in billion USD) (ii) Instead, now assume that the nominal rates will increase to 10% but the inflation remains unchanged. Compute the new size of a primary surplus that the government must run to achieve debt stabilization. (Express in billion USD) (iii) Finally, assume that the nominal rates will increase to 10% but the inflation will fall to 3%. Compute the new size of a primary surplus that the government must run to achieve debt stabilization. (Express in billion USD) (iv) If the government decides to stabilize the debt in 2022 under these three different macroeconomic conditions (i)-(iii), which will be…
argues on the intervention of fiscal policy as an instrument to promote growth, sustainability and economic stability of a country. (Provide a detailed example).
Compare GDP, Debt per GDP and number of employed people for the largest nation on each continent (except Antarctica). Comment on the differences - estimate the national debt per capita in each nation.
What is Sovereign debt? Why do countries issue sovereign debt in foreign currency? Can you look up the current share of Argentina’s total external debt that’s denominated in foreign currency? What does it mean for a country to default on its sovereign debt? (i.e. explain what default means) How do countries usually get out of a sovereign debt crisis? After a country goes through a sovereign debt crisis, does it gets excluded from international capital markets? (i.e. no one would buy sovereign debts issued by that country anymore) If it does not, what is the consequence that the country suffer as a result of the sovereign debt crisis?