FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose Canada's GDP is $1533.1 billion. If the federal government collects $423.1 billion in tax revenues during the year and spends $489.5 billion in total

Suppose Canada's GDP is $1533.1 billion. If the federal government collects $423.1 billion in tax revenues during the year and spends $489.5 billion in total government spending, what is the government's budget deficit in percentage of GDP? (Write just a number with two decimals, without any dollar or percentage symbols. For example, 3.45, or -1.20, or 5.00)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics

Economics

Authors: John Sloman, Alison Wride

7th edition

978-027372130, 273721305, 978-0273721307

More Books

Students also viewed these Economics questions

Question

★★★★★
Rodgers Corporation produces and sells football equipment. On July 1, 2016, Rodgers Corporation issued $65,000,000 of 10-year, 12% bonds at a market (effective) interest rate of 10%, receiving cash...

Answered: 1 week ago

Question

★★★★★
Heston Company acquired a patent on January 1, 2009, for $60,000. The patent has a remaining legal life of 15 years, but Heston expects to receive benefits from the patent for only five years. What...

Answered: 1 week ago

Question

★★★★★
Using the large sample confidence interval formula for the mean, compute a 98% confidence interval for the mean when (a) ???? = 173, ???? = 33.2, and ???? = 3.4. (b) ???? = 211, ???? = 561.7, and...

Answered: 1 week ago

Question

★★★★★
Swan's Sportswear is considering bringing out a line of designer jeans. Currently, it is negotiating with two different well-known designers. Because of the highly competitive nature of the industry,...

Answered: 1 week ago

Question

★★★★★
11-6B. Return on Investment and Residual Income A company has an 10% required rate of return. It is evaluating the following four mutually exclusive projects as possible investments. Required a....

Answered: 1 week ago

Question

★★★★★
Marty uses the visual inspection method for preparing the statement of cash flows. Selected information for Marty Company during 2016 follows: Jan. 1 Dec. 31 Accounts payable $ 45 $ 52 Accounts...

Answered: 1 week ago

Question

★★★★★
Assume food delivery firms like Swiggy are making huge profits. Higher profits may attract the entry of new firms into the food delivery industry. Explain what could be the impact of entry on the...

Answered: 1 week ago

Question

★★★★★
"This problem has such a simple solution. Why are we spending so much time discussing this? I could have been finishing my work instead of wasting my time here," thought Lamar while attending a...

Answered: 1 week ago

Question

★★★★★
Time Dilation: An astronaut travels at a speed of 0.95c away from Earth. The astronaut sends a light signal back to Earth every 1.0 s, as measured by her clock. An observer on Earth notes that these...

Answered: 1 week ago

Question

★★★★★
Suppose Coca-Cola and Pepsi-Cola, who do not communicate, are engaged in a sales game and each firm seeks to maximize profit. The firms set high price or low price. If both set high price, each makes...

Answered: 1 week ago

Question

★★★★★
Mal Co currently sells 25 styles of sports watches. The market has remained static with an overall revenue of $50 million. Mal Co is always trying to bring out new designs and colours to try and...

Answered: 1 week ago

Question

★★★★★
economics of banking question (Questions 1-? relate to the following model) Consider an economy where Banks can invest in one of two projects, G and B. Project 6' pays 0 if successful and zero if not...

Answered: 1 week ago

Question

★★★★★
What is the purpose of control? To what is it directed? LO4

Answered: 1 week ago

Question

★★★★★
How could a negative feedback control system be implemented in project management to anticipate client problems? LO4

Answered: 1 week ago

Question

★★★★★
Journalizing payroll and payroll tax entries. The date and instructions given below relate to Salters, Inc., for the month of July 19X5. The beginning credit balance of the Factory Payroll Clearing...

Answered: 1 week ago

Previous Question Next Question