Why Do Economists Prefer to Examine the Debt as a Percentage

question 142

Essay

Why do economists prefer to examine the debt as a percentage of GDP rather than the level of debt?

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Definitions:

Global Economy

An interconnected marketplace without geographical limits, where goods, services, and labor are exchanged worldwide.

Vocational Rehabilitation Act

A federal law enacted in 1973 designed to help individuals with disabilities access rehabilitation services to gain employment, enhancing their economic independence.

Employment Discrimination

Unfair treatment of employees or job applicants based on race, gender, age, religion, national origin, disability, or other protected characteristics.

Alcoholics

Individuals who suffer from alcoholism, a chronic disease characterized by uncontrolled drinking and a preoccupation with alcohol.