Suppose You Have the Following Data on Projected and Actual

question 127

Essay

Suppose you have the following data on projected and actual figures for the U.S.budget for 2001 (in billions of dollars): (A)What was the projected budget deficit? What was the actual budget deficit? Why did this happen?
(B)If the government debt was $3,530 billion at the end of 2000,what was the debt at the end of 2001?
(C)If GDP was $9,500 billion in 2001,what was the debt to GDP ratio? How does this compare to 1992's debt to GDP ratio?

---

Definitions:

Constant Stimuli

A method in psychophysics used to measure the sensitivity of sensory systems by presenting stimuli of constant intensity but differing in duration or frequency.

Method of Limits

A psychological research method used to measure sensitivity to stimuli by gradually increasing or decreasing the stimulus intensity until it is detectable by the participant.

Adjustment

The process of adapting or becoming accustomed to new conditions or to a new environment.

Weber's Law

A rule which asserts that the minimal discernible change in a stimulus is a constant proportion of the initial stimulus.