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For 1960, the national debt was…….% of GDPIn the same year, the national debt was $0.3 trillion use this information to determine the GDP for 1960 $ trillion

For 1960 The National Debt Was Of GDPIn The Same Year The National Debt Was 03 Trillion Use This Information To Determine The GDP For 1960 Trillion class=

Sagot :

From the graph, the national debt in 1960 was 46%.

It was given that the national debt in 1960 is $0.3 trillion.

Let the GDP be represented by G. This means that 46% of this value is:

[tex]\Rightarrow\frac{46}{100}\times G[/tex]

Equating this to the debt amount, we have:

[tex]0.3=\frac{46}{100}\times G[/tex]

Solving for G, we have:

[tex]\begin{gathered} 46G=0.3\times100 \\ 46G=30 \\ G=\frac{30}{46} \\ G=0.65 \end{gathered}[/tex]

Therefore, the GDP in 1960 was $0.65 trillion.

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