Suppose that over the past 50 years, the nominal and real deficit of a country grew from $100 billion to $200 billion. Suppose that, over the same time, real GDP grew from $100 billion to $300 billion. Using __________, we can give an accurate picture of what happened in the country and conclude that the country is __________.
nominal deficits; worse off
real deficits; worse off
real deficits; better off
deficit-to-GDP ratio; worse off
deficit-to-GDP ratio; better off