question archive Suppose that a particular economy has a real GDP of 12

Suppose that a particular economy has a real GDP of 12

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Suppose that a particular economy has a real GDP of 12 .0 trillion in 2004. It grows to 15.0 trillion in 2005. meanwhile, the national debt was 8.0 trillion in 2004. In 2005 the Federal Government ran a budget deficit of 0.8 trillion, which was totally financed by borrowing. Given the set of circumstances the national debt as a percentage has:

a. Increased,

b. Decreased,

c. Doubled,

d. Remain constant.

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