Absolute and relative sizes of the public debt
How do economists distinguish among the absolute & relative sizes of the public debt?
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There are two method of measuring the public debt: (a) measure its absolute dollar size; (b) measure its relative size like a percentage of GDP.
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Following equations denote market for widgets Demand: P = 10 - Q Supply: P = Q - 4 Here P mentions the price in dollars per unit and Q mention the quantity in thousands of units. A
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