Question

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

Answer 1

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:

$\Rightarrow\frac{46}{100}\times G$

Equating this to the debt amount, we have:

$0.3=\frac{46}{100}\times G$

Solving for G, we have:

$\begin{gathered} 46G=0.3\times100 \\ 46G=30 \\ G=\frac{30}{46} \\ G=0.65 \end{gathered}$

Therefore, the GDP in 1960 was $0.65 trillion.