Which of the following statements is true about the U.S. national debt?
I. Relative to the level of economic activity, the debt is well below the levels reached during World War II.
II. The ratio of debt to GDP rose from 1981 to 1996 and fell in the last years of the twentieth century; it began rising again in 2002.
III. Judged by international standards, the U.S. national debt relative to its GDP is above average among developed nations.

Question

Which of the following statements is true about the U.S. national debt? 
I. Relative to the level of economic activity, the debt is well below the levels reached during World War II.
II. The ratio of debt to GDP rose from 1981 to 1996 and fell in the last years of the twentieth century; it began rising again in 2002.
III. Judged by international standards, the U.S. national debt relative to its GDP is above average among developed nations.

Quizplus · Accepted Answer

I, II, and III are all true statements about the U.S. national debt.

Which of the Following Statements Is True About the U