The Canadian public debt:
A) refers to the debts of all units of government-federal, provincial, and municipal.
B) consists of the total debt of Canadian households, businesses, and government.
C) refers to the collective amount that Canadian citizens and businesses owe to foreigners.
D) consists of the historical accumulation of all federal government deficits and surpluses.

Question

Quizplus · Accepted Answer

The Canadian public debt specifically refers to the historical accumulation of the federal government's deficits and surpluses, not the debts of all levels of government or the total debt of households, businesses, and the government combined.

The Canadian Public Debt