Which of the Following Statements About Japan's Debt Is INCORRECT

Multiple Choice

Which of the following statements about Japan's debt is INCORRECT?

A) Japan has sought to decrease its debt only by cutting spending, rather than raising revenue.
B) Japan has the highest debt-to-GNP ration among OECD countries.
C) Servicing the national debt consumed about a quarter of Japan's 2013 budget.
D) One reason for Japan's large debt is that it has paid for increased social welfare costs by issuing government bonds.
E) Japan's outstanding debt per citizen is just slightly higher than that of the United States.