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Suppose in the beginning of 2013, a country has a national debt of $8,000 billion. Its GDP in
2013 is $32,000 billion and its budget deficit of $1,600 billion. Compute its debt-GDP ratio at the end of the year.
Liable
Legally responsible or obligated, often in the context of owing compensation for harm or damages caused.
Liability
A legal responsibility for one's actions or omissions, which may result in having to pay damages or make restitution in a civil lawsuit.
Instrument
A legal document formally evidencing a right, obligation, or financial transaction.
Certifies
Indicates the act of confirming or acknowledging something officially.
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