Which of the following statements is supported by the data on debt and nominal GDP?

Question

Year Federal Debt NominalGDP

1999 $574 $1,004

2000 $562 $1,089

2001 $545 $1,115

2002 $535 $1,167

2003 $527 $1,227

A. GDP per person fell from 1999 to 2003.

B. Nominal GDP fell from 1999 to 2003.

C. The federal debt decreased from 1999 to 2003.

D. The federal debt and the economy both grew from 1999 to 2003, but GDP per person grew faster.

E. The federal debt and the economy both grew from 1999 to 2003, but the federal debt grew faster.

Answer 1

"C" is right one.