A macroeconomist is likely to be most concerned about the increase of public debt when: a. The government borrows money from the public to fund new roads in a rapidly growing manufacturing district. b. If the public debt to GDP ratio is at 10% c. The government borrows money from banks to fund spending that ensures that all school children and pensioners have warm coats for winter d. If the government borrows money to run a larger budget deficit during a recession then runs a budget surplus during periods of strong economic activity. e. Both b and c are correct