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Which of the following is the correct ordering if we want to rank the four spending components, as a share of U.S. GDP in 2015, in descending (from highest to lowest) order?
Student Loans
Loans taken by students to cover higher education expenses, expected to be repaid with interest.
Simple Interest Rates
Interest calculated only on the principal amount of a loan or deposit, without compounding over time.
Outstanding Balance
The amount of money owed on a loan, credit card, or any other debt that remains unpaid.
Student Loans
Student loans are borrowed funds provided to students to cover education-related expenses, which must be repaid with interest over time.
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