Question

If the public debt in some country is $1,000 billion, and 88 percent is held by the citizens in that country, and the rest held by citizens of foreign countries, how much is owned by each respectively?

a. $880 held by citizens of the country and $120 held by citizens of foreign countries.
b. $500 held by citizens of the country and $500 held by citizens of foreign countries.
c. $88 held by citizens of the country and $912 held by citizens of foreign countries.
d. $120 held by citizens of the country and $880 held by citizens of foreign countries.

Answer 1

The public debt in the country is $1,000 billion, with 88% held by citizens of the country and the rest held by citizens of foreign countries. Citizens of the country hold $880 billion and citizens of foreign countries hold $120 billion.

Step-by-step explanation:

The public debt in the country is $1,000 billion, and 88 percent is held by the citizens in that country, while the rest is held by citizens of foreign countries. To find out how much is owned by each group, we can calculate 88% of $1,000 billion and subtract it from the total debt to find the amount owned by foreign citizens:

1. Amount owned by citizens of the country: $1,000 billion * 88% = $880 billion
2. Amount owned by citizens of foreign countries: $1,000 billion - $880 billion = $120 billion