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The total federal budget based on the budgeted interest on national debt is $3550 billion($3.55 trillion)
What percentage of the budget is $164 billion on national budget?
The spending on interest regarding the national debt is 4.62% of the entire federal budget, on that basis, we can convert the 4.62% to what 1% term and multiply that by 100% to ascertain the total federal budget.
4.62% of federal budget=$164 billion
1 % of federal budget=$164 billion/4.62
1 % of federal budget=$35.50 billion
100% of federal budget=$35.50 billion*100
100% of federal budget=$3.55 trillion
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Answer:
a would be the answer for the question
Answer:
opportunity cost
Explanation:
The concept of Opportunity cost deals with the idea that individuals, investors, or business owners, due to scarcity of resources, lost possible benefits that could be gained, as he or she chooses alternative choice.
Hence, the underlying reason or factor trade benefits both sides of a trading arrangement is rooted in the concept of OPPORTUNITY COST.
Therefore, the right answer is Opportunity cost.