Asked by Cleo E. Rodriguez on May 20, 2024
Verified
Between 1980 and 1990,the national debt ___________ as a percentage of GDP.
A) fell substantially
B) fell slightly
C) stayed about the same
D) rose slightly
E) rose substantially
National Debt
The total amount of money that a country's government has borrowed, typically as a result of deficit spending.
GDP
Gross Domestic Product, a monetary measure of the market value of all final goods and services produced in a country during a specific period.
- Explain the relationship between government spending, taxation, and national debt.
Verified Answer
JL
Jahmela LawrenceMay 24, 2024
Final Answer :
E
Explanation :
This period saw a significant increase in the national debt as a percentage of GDP, from around 33% in 1980 to nearly 60% in 1990. Therefore, the correct answer is E, rose substantially.
Learning Objectives
- Explain the relationship between government spending, taxation, and national debt.