Asked by Carrie Steel on May 11, 2024
Verified
Since 1980,our national debt as a percentage of GDP has
A) risen.
B) fallen.
C) stayed about the same.
GDP
Gross Domestic Product (GDP) signifies a country's economic output, quantifying the sum value of all produced goods and services within a designated timeframe.
- Identify the historical backdrop and development of fiscal policy and public debt.
- Comprehend the worldwide implications of a country's debt and the impact of international investment on the local economy.
Verified Answer
PS
Pooja SehgalMay 14, 2024
Final Answer :
A
Explanation :
The national debt as a percentage of GDP has risen since 1980. In 1980, the national debt was roughly 35% of GDP, but by 2020, it had surpassed 100%. This indicates that our national debt has been growing at a faster rate than our economy, resulting in a higher percentage of debt relative to our GDP.
Learning Objectives
- Identify the historical backdrop and development of fiscal policy and public debt.
- Comprehend the worldwide implications of a country's debt and the impact of international investment on the local economy.
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