Question: How would I know which numbers I should pick for the options on the right? Year1 Econornk2Forecast Last year Econland's GDP was US$100 billion, making
How would I know which numbers I should pick for the options on the right?

Year1 Econornk2Forecast Last year Econland's GDP was US$100 billion, making the economy roughly the size of Puerto Rico or Hungary. Econland is affected by global economic conditions, but it is too small to impact the global economy in return. Exports and imports both account for 25% of GDP. Last year, the world economy did well and Econland experienced solid economic growth [2.4%]. Unemployment is low (5%], and ination [at 2%] and the budget decit (2.8% of GDP) are under control. Total government debt is 60% of GDP. The outlook for next year is moderately positive, with the International Monetary Fund (IMF) predicting world economic growth of2.4%. The Consumer Condence Index is at its longterm average of 100. Forecast World Economic Growth % 24 Econland Consumer Condence Index 0 100 Dedons Interest Rate 0 0% 7% Last year's interest rate: 3% Income Tax Rate 0 :i 0% 50% Last year's income tax rate: 24% Corporate Tax Rate 0 :. 0% 50% Last year's corporate tax rate: 30% Government Expenditure (billions) B 3.0% 24% 30% $30 Expenditure should be between 0-1000 billion Last year's government expenditure (billions): $30
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
