D Question 1 6 pts Recall that National Savings is: S = (Y -T -O) + (T -G) , where (Y - T - C) is private savings, and (T - G) is public savings. Now, answer the following: a. Based on public savings, define budget deficit, budget surplus, and balanced budget b. Define national debt c. How economists measure a country's ability to pay its debt? Explain! Earn extra 5 points by answering this: The following table shows the countries' debt and GDP. Complete the table by finding the debt/GDP ratio and identify the country that is less likely to pay its debt. Explain! Debt/GDP ratio Country Debt GDP Debt/GDP A $40 $20 B $10 $14 C $250 $360 D $14 $6