Which of the following is correct with regard to budget deficits and the national debt?
A) A country's national debt is the amount of money its government owes the United States.
B) A budget deficit occurs when income tax revenue is less than interest payments on the national debt.
C) Canada is the only industrialized country in the world that has a budget surplus.
D) Until recently,Canada was the only industrialized country that had an annual budget surplus.
E) All of these statements are correct.

Question

Quizplus · Accepted Answer

Until recently,Canada was the only industrialized country that had an annual budget surplus.

Which of the Following Is Correct with Regard to Budget