The national debt is the
A) difference between a nation's exports and imports of goods and services.
B) sum of the personal debt of all citizens in the United States.
C) indebtedness of the federal government in the form of outstanding interest-earning bonds.
D) sum of the net personal debts of Americans to foreigners.

Question

Quizplus · Accepted Answer

The national debt is the indebtedness of the federal government in the form of outstanding interest-earning bonds. It represents the cumulative amount of money that the government has borrowed over time to finance budget deficits and other expenses. It is not related to personal debt, exports and imports, or the net personal debts of Americans to foreigners.

The National Debt Is the