The Sharp Rise in the Debt-To-GDP Ratio in 2008-2009

Multiple Choice

The sharp rise in the debt-to-GDP ratio in 2008-2009

A) was exclusively automatic due to the effect of declining income on government outlays and tax revenues.
B) was exclusively due to an aggressive fiscal policy.
C) was exclusively due to military expenditures.
D) was partly automatic due to the effect of declining income on government outlays and tax revenues,and partly due to an aggressive fiscal policy.
E) was exclusively due to foreign aid expenditures.