Asked by Paige Taylor on May 02, 2024
Verified
Which country listed here had the highest deficit as a percent of GDP in 2009?
A) Japan
B) The United States
C) Italy
D) Great Britain
Deficit
The amount by which government expenditures exceed revenue over a particular period, leading to borrowing or debt.
Japan
An island nation in East Asia, known for its rich culture, technological advancements, and significant economic power.
- Examine the reasons behind and the consequences of federal budget shortfalls and the national debt.
Verified Answer
FT
Filiana TanotoMay 03, 2024
Final Answer :
A
Explanation :
Japan had the highest deficit as a percent of GDP in 2009, largely due to its significant government spending to combat the effects of the global financial crisis.
Learning Objectives
- Examine the reasons behind and the consequences of federal budget shortfalls and the national debt.