The Canadian Federal Government's Net Debt as a Percentage of GDP

The Canadian federal government's net debt as a percentage of GDP reached a historic high of

A) 70% in 1996 due to large and persistent deficits throughout the 1970s.
B) 70% in 1982 due to the OPEC oil shock in the mid-1970s and the severe inflation that followed.
C) 110% in 1946 as a result of Canada's participation in the Second World War.
D) 52% in 2012 due to the fiscal expansion following the global financial crisis.
E) 90% in the late 1960s due to massive infrastructure projects in progress across Canada.