The national debt:
A)is a flow variable measuring the net accumulation of past deficits.
B)is a stock variable measuring the net accumulation of past deficits.
C)measures the amount by which government revenues exceed outlays in a particular year.
D)includes the projected liabilities of Social Security,Medicare,and other federal retirement programs.
E)includes outstanding liabilities of federal,state,and local governments minus government financial assets.

Question

Quizplus · Accepted Answer

The national debt is a stock variable measuring the net accumulation of past deficits. It represents the total amount of money that the federal government owes to its creditors, including individuals, businesses, and foreign governments, and is not limited to a particular year's budget surplus or deficit.

The National Debt