Which of the following best describes the national debt?
A) when government spending exceeds revenue over a year
B) the government debt held by the public
C) the total debt of all households in Canada
D) the net accumulation of federal budget deficits

Question

Which of the following best describes the national debt?  
A) when government spending exceeds revenue over a year 
B) the government debt held by the public 
C) the total debt of all households in Canada 
D) the net accumulation of federal budget deficits

Quizplus · Accepted Answer

The national debt is the sum of all past federal budget deficits, minus any surpluses, and represents the net accumulation of the federal government's borrowing over time.

Which of the Following Best Describes the National Debt