eckpoint Assig X DZL Macroeconomics Simulation: Ecc x https://services.hosp.harvard.edu x Macroeconomics Simulation: Ecc X + rvard/econland/index.html#decisions pa Harvard Business Publishing Macroeconomics Simulation: Econland Education PREPARE DECIDE Resources - Sign Out Year 1 Economic Forecast Decisions Last year Econland's GDP was US$100 billion, making the Interest Rate economy roughly the size of Puerto Rico or Hungary. Econland 4.5% is affected by global economic conditions, but it is too small to % impact the global economy in return. Exports and imports both Last year's interest rate. 3% account for 25% of GDP. Last year, the world economy did well and Econland Income Tax Rate experienced solid economic growth (2.4%). Unemployment is 24% % 50% low (5%), and inflation (at 2%) and the budget deficit (2.8% of GDP) are under control. Total government debt is 60% of GDP. Last year's income tax rate: 24% The outlook for next year is moderately positive, with the Corporate Tax Rate ( International Monetary Fund (IMF) predicting world economic 30% growth of 2.4%. The Consumer Confidence Index is at its long- 50% term average of 100. Last year's corporate tax rate 30% Government Expenditure (billions) Forecast World Economic Growth % $30 2.4 Expenditure should be between 0-1000 billion Econland Consumer Confidence Index Last year's government expenditure (billions) $30 100