Ask Question
BusinessBusiness
5 October, 12:46

Economy X has total government debt of $40,000 and Nominal GDP 60,000. Economy Y has total government debt of $32,000 and Nominal GDP 16,000. (Hint: Economy X is more like the United States; Economy Y is more like Greece in 2011.) Which economy has more svere debt problem?

+4
Answers (1)
  1. 5 October, 13:20
    0
    Economy Y more severe debt problem.

    Explanation:

    Given:

    Economy X Economy Y

    Government debt $40,000 $32,000

    Nominal GDP $60,000 $16,000

    This table shows that Economy Y's Government debt is higher than its Nominal GDP and Economy X's Government debt is lower than its nominal GDP.

    Therefore, we say that Economy Y has a more severe debt problem.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Economy X has total government debt of $40,000 and Nominal GDP 60,000. Economy Y has total government debt of $32,000 and Nominal GDP ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
If "All fashion fads are products of commercial brainwashing" is false, what is the truth value of the following statements? a. No fashion fads are products of commercial brainwashing. b. Some fashion fads are products of commercial brainwashing. c.
Answers (1)
One of the reasons that organized crime has been around so long is that it provides goods and services that society wants. True / False.
Answers (1)
A December 15, 2008, purchase of goods was denominated in a currency other than the entity's functional currency.
Answers (1)
What causes people to have high or low interest rates on credit cards or loans
Answers (1)
In the context of the new products process, which of the following best defines a full screen? a. It refers to unsolicited ideas for concept generation that pour in through spam mails. b.
Answers (1)
New Questions in Business
Charley has a typing service. he estimates that a new computer will result in increased cash inflow $1,600 in year 1, $2,000 in year 2 and $3,000 in year 3.
Answers (1)
Real GDP per person in Northland is $30,000, while real GDP in Southland is $10,000, However, Northland's real GDP per person is growing at 1 percent per year, and Southland's real GDP per person is growing at 3 percent per year.
Answers (1)
Canada and the U. S. both produce wheat and computer software. Canada is said to have the comparative advantage in producing wheat if a. the U. S. has an absolute advantage over Canada in producing computer software. b.
Answers (1)
Ragtown Grill uses cost-plus pricing with a 40% mark-up. The company is currently selling 20,000 units annually, but has a capacity of 30,000 units. Each unit has a variable cost of $15.
Answers (1)
If automobile producers expect prices of automobiles to increase in the near future, what happens to supply today?
Answers (1)
Home » Business » Economy X has total government debt of $40,000 and Nominal GDP 60,000. Economy Y has total government debt of $32,000 and Nominal GDP 16,000. (Hint: Economy X is more like the United States; Economy Y is more like Greece in 2011.
Sign Up Forgot Password?