380460Sometimes it is more useful to express this as a decimal. In this case, just divide the numerator by the denominator andround to an appropriate number of decimal places (here, three):380 = 0.826460To express this as a percentage, just take the decimal result times 100. We will round to one decimal places here:3804600.826 x 100 = 82.6%Suppose that the annual federal deficit is $350 billion. Gross Domestic Product 'GDP', a measure of the size of the economy is $14.5trillion ($14,500 billion). Calculate the ratio between the deficit and GDP as a percentage rounded to one decimal place:Deficit-GDP ratio:< Prev2of 5#Score.answer

Federal Deficit = 350 billion GDP = 14,500 billion

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: Deficit-GDP ratio: .....

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: Deficit-GDP ratio: .....

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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