The national debt is
A) tax revenue minus government outlays.
B) government outlays minus tax revenue.
C) the amount borrowed by the government to finance past budget deficits.
D) the amount lent by the government of past budget surpluses.
E) the excess of this year's budget surplus minus this year's budget deficit.
Correct Answer:
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Q27: The magnitude of the government expenditure multiplier
Q29: If government expenditure on goods and services
Q30: When the government's outlays equal its tax
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