Exhibit 23-1: Global Comparison of Government Surpluses and Deficits as a Percentage of GDP, 2016
?
Country Surplus (+) or Deficit (-) as a percent of GDP Canada -1.10 Iceland 12.57 Latvia 0.06 Norway 3.99 Spain -4.51 United States -4.94
Given the information in Exhibit 23-1, which of the following statements is correct?
A. Canada was the closest of the countries shown to balancing its budget.
B. Norway likely had to sell government securities to finance its overspending.
C. Iceland experienced the largest deficit of the countries shown.
D. The national debts of Canada, Spain and United States increased in 2016.
Answer: D
Economics
You might also like to view...
In the loanable funds market, what variable changes to eliminate a shortage of loanable funds and how is the shortage eliminated?
What will be an ideal response?
Economics
The larger the marginal propensity to import, the larger the government purchases multiplier
Indicate whether the statement is true or false
Economics