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Which of the following statements is true about the national debt?
I.Relative to the level of economic activity, the debt is well below the levels reached during
World War II.
II.The ratio of debt to GDP rose from 1981 to 1996 and fell in the last years of the twentieth
Century; it began rising again in 2002.
III.Judged by international standards, the U.S.national debt relative to its GDP is about average
Among developed nations.
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