If the government owes $10.0 trillion and then borrows $700 billion more this year,this leads to

Question

Quizplus · Accepted Answer

The government's total debt before borrowing more is $10.0 trillion. Borrowing an additional $700 billion adds to that debt, bringing the total debt to $10.7 trillion. The deficit is the amount by which government spending exceeds revenue in a given year. In this case, the government borrowed $700 billion, which increases the deficit to $700 billion. Therefore, the correct answer is B.

If the Government Owes $10