The national debt refers to the total amount of money that the federal government has borrowed over time to fund its expenditures. This includes borrowing through Treasury bonds, notes, and bills from individuals, corporations, and foreign governments.

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The National Debt Is

Question 9

Multiple Choice

The national debt is

A) the total amount of money borrowed by state governments.
B) the amount of money the federal government overspends in one fiscal year.
C) the total value of all the goods and services produced in a nation in one year.
D) the amount of interest that must be paid on borrowed money in one year.
E) the total amount of money borrowed by the federal government.

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