In 2001 the government of Anchovy collected receipts of $100 billion and had expenditures of $125 billion. Its GDP was $400 billion. The government's deficit was what percent of GDP in 2001?
A. 6.25%
B. 12.50%
C. 25.00%
D. 100.00%
Answer:A
In 2001 the government of Anchovy collected receipts of $100 billion and had expenditures of $125 billion. Its GDP was $400 billion. The government's deficit was what percent of GDP in 2001?
A. 6.25% B. 12.50% C. 25.00% D. 100.00%