Deficits count government spending shortfalls _______, while public debt counts _______.
A) in a year; the total amount owed from all years
B) from all years; the total from a single year
C) in real terms; shortfalls in nominal terms
D) as a percentage of GDP; shortfalls in nominal terms

Question

Quizplus · Accepted Answer

Deficits refer to government spending shortfalls in a single year, while public debt refers to the total amount owed from all years.

Deficits Count Government Spending Shortfalls _______, While Public Debt Counts