Question

If the public debt of the United States of Apex is 9,529,034,179,824,022 Apex dollars and its gross domestic product (GDP) is 16,247,683,987,248,007 Apex dollars, then its debt-to-GDP ratio is about 171%. True or False?

Answer 1

To compute for the debt-to-GDP ratio, we just have to divide the debt given in this item by the GDP and convert the quotient to percentage. That is,
debt-to-GDP ratio = (9,529,034,179,824,022)/ (16,247,683,987,248,007) x 100%
debt-to-GDP ratio = 58.65%
Thus, the answer is FALSE.