Comparing fiscal situations in the worldThe fiscal situation of economies in the world has been provided in IMF reports and statistics. Refer to the International Financial Statistics and the Fiscal Monitor, available on the IMF Web site, to get the statistical series.Using these statistics answer the following: a. Based on the following, compare the United States, Euro Area (EA), and Japan between 2008 and 2015: i. The nominal deficitii. The Cyclically adjusted balance (CAB)iii. The growth of GDP b. Compare the ratio to GDP of the gross debt and the net debt of these 3 areas in 2015. c. Returning to the IMF tables, what can you say about the category of emerging market and middle-income economies for their overall fiscal balance, their growth, and their debt GDP ratio if you compare the situation in 2008 with the situation in 2015?
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