The Canadian Federal Government's Net Debt as a Percentage of GDP

question 53

Multiple Choice

The Canadian federal government's net debt as a percentage of GDP reached a historic high of

• A)70% in 1996 due to large and persistent deficits throughout the 1970s.
• B)70% in 1982 due to the OPEC oil shock in the mid-1970s and the severe inflation that followed.
• C)110% in 1946 as a result of Canada's participation in the Second World War.
• D)52% in 2012 due to the fiscal expansion following the global financial crisis.
• E)90% in the late 1960s due to massive infrastructure projects in progress across Canada.

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