The gross public debt was approximately $6 trillion in 2002 and approximately $16 trillion in 2012. These numbers definitely indicate that in the 10 years between 2002 and 2012
A) the government had budget deficits that totaled about $10 trillion.
B) the government had budget deficits of about $10 trillion per year.
C) government outlays increased by about $1 trillion per year.
D) government receipts decreased by about $1 trillion per year.
Correct Answer:
Verified
Q43: A new country has been in existence
Q44: Q45: The federal government debt is equal to Q46: Suppose a country has been running a Q47: The U.S. government's budget Q49: The sum of past budget deficits minus Q50: By definition, a government budget deficit is Q51: If tax revenues equal $1.5 billion and Q52: If the government runs a deficit, the Q53: If the government has a balanced budget,
A) must be balanced
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