The public debt is the
A)amount of U.S.paper currency in circulation.
B)ratio of all past deficits to all past surpluses.
C)accumulation of all past deficits minus all past surpluses.
D)difference between current government expenditures and current tax revenues.

Question

Quizplus · Accepted Answer

The public debt is the total amount of money that a government owes, which is the accumulation of all past deficits (when expenditures exceed revenues) minus all past surpluses (when revenues exceed expenditures).

The Public Debt Is the