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How many trillions of dollars did the government add to the debt in 2022? (Hint: See the deficit numbers in FRED: https://fred.stlouisfed.org/series/FYFSDLinks to an external site. but be careful! Those are deficit numbers. I am asking about the debt.) Provide your answer in trillions and round it to two digits after the decimal. ex. Enter 1.45 if your solution is 1.45 trillion.
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- Fact: America's national debt stands at $17 trillion. That's a tough number to grasp. Most people will never come close to making $1 million in any given year. How can we understand the magnitude of the hole our country is in? Well, imagine you owed your credit card company $200,000.(Please note this is a what if statement) (Also all you need is about 2 pargraphs nothing to long :) . ) Answer the question: What will happen with the US debt crises? Explain your position.To eliminate the deficit (and halt the growth of the net public debt), a politician suggests that “we should tax the rich.” The politician makes a simple arithmetic calculation in which he applies a higher tax rate to the total income reported by “the rich” in a previous year. He says that the government could thereby solve the deficit problem by taxing “the rich.” What is the major fallacy in such a claim?What is the overall level of federal debt for the United States in trillions of dollars based on the first quarter of 2023? (FRED: https://fred.stlouisfed.org/graph/?g=T9CgLinks to an external site.) Provide your answer in trillions and round it to two digits after the decimal. ex. Enter 1.45 if your solution is 1.45 trillion.
- Fact: America's national debt stands at $17 trillion. That's a tough number to grasp. Most people will never come close to making $1 million in any given year. How can we understand the magnitude of the hole our country is in? Well, imagine you owed your credit card company $200,000. How much is the current debt?What is the impact of total government spending during the pandemic on current debt? Is government spending on the pandemic fiscal or monetary policy? Give 2 reasons why you think government spending for the pandemic is fiscal or monetary policy. At least one paragraph and cite any sources in APA format.Suppose that the amount of taxes in the US is equal to $1800. Suppose that the government expenditures is equal to $1800. In addition, you know that the current level of debt in the US is equal to $380000 (all numbers in billions of domestic currency). Given this data, what is the new level of the US's debt? $ Hint ow Transcribed Text $ Suppose that the amount of taxes in Slovenia is equal to 1300. Suppose that the government expenditures are equal to 1700 (All numbers in billions of domestic currency) Given this data, what can you say about Slovenia's budget? What is the size of Slovenia's deficit? Hint ow Transcribed Text 4 3 Consider the following statistics for banking sector in Mexico displayed in the table below (all numbers in billions of domestic currency). Coins and Currency in Circulation Checkable Deposits Traveler's Checks Hint 1400 1 1900 Savings Accounts 8600 Money Market Mutual Funds 500 Time Deposits 600 Using the data above, calculate M2 for Mexico. Use the new…Explain how, for a country with a high debt ratio, if the financial markets fear that the country will default on its debt this fear may be self-fulfilling
- OMAN'S ECONOMIC UPDATE Excerpt from The World Bank (October 2020) Similar to most economies all over the world, "the economy of Oman contracted sharply in 2020 amid the weakness of oil prices and the disruptions from COVID-19. Fiscal and external deficits will remain under immense strain due to prolonged low oil and gas prices, elevating public and external debt. Key risks to the outlook are prolonged low oil prices, which will induce high external borrowing needs, and lack of impetus for private sector job creation that does not depend on government spending. The drop in oil prices and COVID-19 are placing unprecedented strain on Oman's economy. While no official data are available yet on the economy in 2020, preliminary data issued by the authorities indicate that Oman's nominal GDP has contracted by 3.9% in Q1/2020 (y/y); non-oil activities contracted by over 6%. Inflation has reached negative territory with -0.4% (y/y) in Q2/2020 reflecting weak domestic demand. The sharp drop in…In 2019, the U.S. government’s total debt reached $21.2 trillion, approximately equal to 105.3% of GDP. At the time, according to the U.S. Treasury, the average interest rate paid by the government on its debt was 1.3%.At what rate would nominal GDP have to grow in order for the debt-to-GDP ratio to remain unchanged when the deficit in 2020 is $600 billion? Answer with detailed workings.The imaginary country of Acordia lists the following projected revenues and outlays for 2020: $30 million in personal income tax, $20 million in corporate income tax, $7 million in indirect taxes, $2 million in investment income, $35 million in transfer payments, $14 million in government expenditures, and $4 million in debt interest. What is the projected budget surplus (or deficit) for 2021? Calculate the amount and indicate whether it is a surplus or deficit.
- The U.S. debt is $28.9 trillion as of Nov. 6, 2021. and each citizen's share of this debt is over $86,939 considering the population of about 330 million.(https://www.usdebtclock.org/) Even our national debt has continued to increase an average of over $2 billion per day since September 30, 2012, and currently US federal debt to GDP ratio reached 128.12% in the middle of COVID-19 pandemic. What do you think about the public debt in the U.S.? Do you think it is a myth to overly concern about the debt? Or, would it be a significant problem for our future generations as well as current generation? Discuss.6.9 An editorial in the Wall Street Journal states: “We don’t put much stock in future budget forecasts because they depend on so many variables.” What variables would a forecast of future federal budget deficits depend on? Why do these variables make future budget deficits difficult to predict?Use the table to answer the following questions: Public Debt over Time United States France Italy Belgium Australia France Belgium Australia the United States 2001 Debt $3.3 trillion $0.9 trillion $1.5 trillion $0.3 trillion $0.2 trillion According to the table, which country appeared to be in the worst fiscal shape in 2012? Italy GDP $10.2 trillion $1.5 trillion $1.2 trillion $0.3 trillion $0.7 trillion 2011 Debt $12.2 trillion $1.8 trillion $1.7 trillion $0.3 trillion $0.4 trillion GDP $15.0 trillion $2.0 trillion $1.6 trillion $0.4 trillion $1.4 trillion