Choose the statement that is incorrect.
A) The debt- to- GDP ratio increased from 1974 through 1997, and then began to decrease.
B) The federal government debt was 4.4 percent of GDP in 1971.
C) The debt- to- GDP ratio increased slightly during the 2008- 2009 recession.
D) As a percentage of real GDP, the federal government debt was greater in 2014 than in 1971.
E) The government debt increases when the government has a budget deficit.
Correct Answer:
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