The annual difference between federal spending and revenues is called the:
A) national deficit.
B) national debt.
C) debt held by the public.
D) debt-to-GDP ratio.

Question

Quizplus · Accepted Answer

The national deficit represents the annual difference between federal spending and revenues. It is not the same as the national debt, which is the total amount of money owed by the government, or the debt held by the public or the debt-to-GDP ratio.

The Annual Difference Between Federal Spending and Revenues Is Called