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If the deficit is 0.1 times GDP,the existing debt-GDP ratio is 0.5,and the growth rate of nominal GDP is 0.04,then the change in the debt-GDP ratio is
Economic Development
The process by which a nation improves the economic, political, and social well-being of its people, often measured by increases in standards of living, income, and employment.
Not-for-profit Organizations
Entities that function with goals beyond profit-making, emphasizing on initiatives related to social, educational, or charity work.
Small Businesses
Enterprises characterized by fewer employees, lower revenue, and smaller scale of operations compared to larger companies.
First Year
The initial period of 12 months from the start of an event, activity, or establishment.
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