The U.S.economy experiences a public debt when the value of its annual deficits exceeds the value of its annual surpluses over an extended period of time.

Question

Quizplus · Accepted Answer

This statement is true. Public debt occurs when a government's spending exceeds its revenue over a long period of time, resulting in a budget deficit. When budget deficits persist, they accumulate into a public debt, which represents the total amount of money owed by the government to its creditors.

The USEconomy Experiences a Public Debt When the Value of Its