If a Government Has Large Consecutive Budget Deficits and If

question 114

True/False

If a government has large consecutive budget deficits and if the public debt is growing faster than GDP, its ratio of debt to GDP will increase.

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Definitions:

Income

The financial gain acquired by an individual or a business in exchange for providing labor, product, or service or through investing capital.

Economy

The system of production, distribution, and consumption of goods and services within a society, encompassing various sectors like agriculture, manufacturing, and services.

Efficient

The optimum use of resources to achieve the best possible outcome or output with minimal waste.

Opportunities

Chances or situations that present possibilities for advancing one's personal, professional, or economic position.