Exhibit 17-1: Global Comparison of Government Surpluses and Deficits as a Percentage of GDP, 2016
?
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 17-1, 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
You might also like to view...
How do orange growers react to the news of medical research findings that suggest that eating oranges leads to greater health benefits than were previously known? a. They increase the supply of oranges
b. They increase the quantity of oranges supplied. c. They decrease the supply of oranges. d. They decrease the quantity of oranges supplied.
According to some economists, when a country's debt-to-GDP ratio exceeds 90 percent:
A. the government will face financial instability B. the government will have to purchase more long-term securities. C. the interest rate will fall, reducing debt service payments. D. it will compel citizens to buy more U.S. debt.
When the price of tablet devices decreased in the 2010s, there was an increase in the demand for computing apps because tablet devices and computing apps are
A) substitute goods. B) capital goods. C) inferior goods. D) complementary goods.
In the above figure, what is the amount of consumer surplus at the efficient quantity?
A) $0 B) $1,000 C) $2,000 D) $4,000