Exhibit 23-1: Global Comparison of Government Surpluses and Deficits as a Percentage of GDP, 2016
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Country Surplus (+) or Deficit (-) as a percent of GDP Canada -1.10 Iceland 12.57 Latvia 0.06 Norway 3.99 Spain -4.51 United States -4.94
Given the information in Exhibit 23-1, which of the following statements is correct?
A. Canada was the closest of the countries shown to balancing its budget.
B. Norway likely had to sell government securities to finance its overspending.
C. Iceland experienced the largest deficit of the countries shown.
D. The national debts of Canada, Spain and United States increased in 2016.
Answer: D
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