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Question 07: In 2021, Ecoland's economy (GDP) grew by 20% while its national debt grew by 10%. Calculate the 2021 debt-to-GDP ratio. Hint: first calculate

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Question 07: In 2021, Ecoland's economy (GDP) grew by 20% while its national debt grew by 10%. Calculate the 2021 debt-to-GDP ratio. Hint: first calculate the new debt and new GDP numbers for 2021. For example, to find a 20% increase in a number, multiply it by 1.2! (A) 27%; the burden of the national debt in 2021 is less than in 2020 B) 23%; the burden of the national debt in 2021 is greater than in 2020 (C) 23%; the burden of the national debt in 2021 is less than in 2020 (D) 27%; the burden of the national debt in 2021 is greater than in 2020

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