Which Country in the World Has a Debt Larger Than

question 15

Multiple Choice

Which country in the world has a debt larger than 100 percent of its GDP in 2010?

• A)Japan
• B)Italy
• C)Greece
• D)All of these countries owe more than 100 percent of their GDP.

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Definitions:

Market

A medium that allows buyers and sellers of a specific good or service to interact in order to facilitate an exchange.

No Externality

A situation where private costs or benefits are equal to social costs or benefits, with no spillover effects on third parties.

Market

An arrangement or venue where parties engage in exchange of goods and services.

Positive Externality

A benefit that is enjoyed by a third-party as a result of an economic transaction or activity in which they did not directly participate.