Net public debt is the
A) difference between tax revenues and government expenditures each year.
B) sum of accumulated government deficits and surpluses held by individuals and businesses and foreign institutions.
C) sum of accumulated government deficits and surpluses held by U.S. government agencies.
D) sum of accumulated government deficits and surpluses held by large money center banks.

Question

Quizplus · Accepted Answer

Net public debt is the total amount of government debt held by individuals, businesses, and foreign institutions. It is the sum of all accumulated deficits and surpluses over time. Choice A refers to the annual budget deficit or surplus, which is different from the net public debt. Choices C and D are not accurate definitions of net public debt.

Net Public Debt Is the