Net public debt is
A) the excess of annual government spending over annual tax revenues.
B) the excess of annual tax revenues over annual government spending.
C) the portion of government debt held by private individuals and firms.
D) the sum owed by the public to keep the Social Security system afloat.

Question

Quizplus · Accepted Answer

Net public debt is the portion of government debt held by private individuals and firms, meaning it is the amount of debt owed to non-government entities. Options A and B refer to annual budget deficits or surpluses, which do not necessarily impact the net public debt. Option D refers specifically to the Social Security system and is not a broader definition of net public debt.

Net Public Debt Is