The tables show the spending and revenue for Littleland in 2010. Use the tables and other information to answer the questions Spending category education welfare and Social Security health care defense payments on debt other Value (millions) $320 $890 $270 $120 $170* $%240 Revenue categoryValue (millions) ncome tax sales tax corporate tax social insurance $800 $270 $300 $340 GDP in 2010: $7.3 billion Total debt as of 2009: S3.5 billior *This payment covers total interest owed only How much money in millions did Littleland need to borrow in 2010 to finance its government spending? What was Littleland's deficit to GDP ratio in 2010? Give your answer to the nearest whole percentage point. At the end of 2010, what was Littleland's debt to GDP ratio? Give your answer to the nearest whole percentage point.
The tables show the spending and revenue for Littleland in 2010. Use the tables and other information to answer the questions Spending category education welfare and Social Security health care defense payments on debt other Value (millions) $320 $890 $270 $120 $170* $%240 Revenue categoryValue (millions) ncome tax sales tax corporate tax social insurance $800 $270 $300 $340 GDP in 2010: $7.3 billion Total debt as of 2009: S3.5 billior *This payment covers total interest owed only How much money in millions did Littleland need to borrow in 2010 to finance its government spending? What was Littleland's deficit to GDP ratio in 2010? Give your answer to the nearest whole percentage point. At the end of 2010, what was Littleland's debt to GDP ratio? Give your answer to the nearest whole percentage point.
Chapter3: Economic Decision Makers
Section: Chapter Questions
Problem 3.11P
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