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 fell in the last years of the twentieth
Century; it began rising again in 2002 and has risen substantially since the 2008 recession.
III. Judged by international standards, the U.S. national debt relative to its GDP is above average among developed nations.

Question

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I. The debt is well below the levels reached during World War II.II. The ratio of debt to GDP fell in the last years of the twentieth Century; it began rising again in 2002 and has risen substantially since the 2008 recession.III. Judged by international standards, the U.S. national debt relative to its GDP is above average among developed nations.

Which of the Following Statements Is True About the U