Solved: The U.S. trade deficit at the beginning of 2005
Chapter , Problem 91(choose chapter or problem)
The U.S. trade deficit at the beginning of 2005 was $475,000,000. If the wealthiest 1.00 percent of the U.S. population (297,000,000) contributed an equal amount of money to bring the trade deficit to $0, how many dollars would each person contribute? If one of these people were to pay their share in nickels only, how many nickels are needed? Another person living abroad at the time decides to pay in pounds sterling (). How many pounds sterling does this person contribute (assume a conversion rate of 1 _ $ 1.869)?
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