The total indebtedness of the federal government in the form of outstanding interest-earning bonds is the
A) budget deficit.
B) budget surplus.
C) national debt.
D) trade deficit.

Question

Quizplus · Accepted Answer

The national debt refers to the total amount of money owed by the federal government. This includes outstanding interest-earning bonds, as well as other forms of debt such as loans and unfunded mandates. The budget deficit represents the amount by which government spending exceeds revenue in a particular fiscal year, while the budget surplus represents the amount by which revenue exceeds spending. The trade deficit pertains to the difference between a country's imports and exports of goods and services.

The Total Indebtedness of the Federal Government in the Form