The public debt is the
A) debt held by public corporations.
B) portion of the national debt that is held by individuals, companies, and pension funds, along with foreign entities and foreign governments.
C) amount by which government spending exceeds tax revenues in a given year.
D) amount government agencies owe to other agencies.

Question

Quizplus · Accepted Answer

The public debt refers to the portion of the national debt that is held by individuals, companies, and pension funds, along with foreign entities and foreign governments. It is different from the debt held by public corporations or the amount by which government spending exceeds tax revenues in a given year, and also does not refer to the amount government agencies owe to other agencies.

The Public Debt Is the