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Problem 17

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Economics
Economics

Economics

Book edition 9 Edition
Author(s) William Boyes, Michael Melvin

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Short Answer

Is the United States the nation with the most government debt? If not, who is?

Answer: ___________ (Country name) has the highest government debt. The United States does/does not hold the position for the country with the most government debt.
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Step by Step Solution

TABLE OF CONTENTS :
TABLE OF CONTENTS

Step 1: Check the U.S. Government Debt

To determine if the United States has the most government debt, we can check reliable sources and financial institutions which provide information on government debt levels, such as the International Monetary Fund (IMF) or World Bank. For this exercise, we will check the IMF's data on the gross government debt-to-GDP ratio.

Step 2: Compare with Other Countries

Once we find the U.S. government debt, we must compare it with other countries' government debt. We can review the same sources as before (IMF, World Bank) to gather a list of some other countries with high government debt levels.

Step 3: Determine the Country with the Most Government Debt

Using the data collected from the previous steps, we compare the gross government debt-to-GDP ratios of the United States and the other countries identified. The country with the highest debt-to-GDP ratio is the nation with the most government debt.

Step 4: Document Your Findings

Finally, once we've identified the country with the most government debt, we can record our findings, stating whether the United States holds this position or not, and which country does if it's not the United States.

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