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svetoff [14.1K]
3 years ago
10

Last year a country’s real GDP grew by 4%, it’s inflation rate was 2.5%, and it’s government budget deficit was about $250 billi

on. It’s debt to GDP ratio was unchanged. About what was it’s debt at the start of last year?
a. 16.7 trillion
b. 10.0 trillion
c. 6.25 trillion
d. 3.85 trillion
Business
1 answer:
Arturiano [62]3 years ago
5 0

Answer:

d. 3.85 trillion

Explanation:

Step 1: Given data

GDP = GDP grew by = 4% = 0.04

R = inflation rate was = 2.5% = 0.025

D = government budget deficit was = $250 billion

Step 2: Formula

X = debt at the start of last year

X = D / (GDP + R)

Step 3: Computation

X = 250 billion / (0.04 + 0.025)

X = 250,000,000,000 / 0.065

X = 3,846,153,846,153.85

Step 4: Convert to trillion

X = 3,846,153,846,153.85 / 1,000,000,000,000

X = 3.85 trillion

The correct option is d. 3.85 trillion

Hope this helps!

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