Bonds may be issued by all of the following except

The national debt is unlikely to cause national bankruptcy because the:

a. national debt can be refinanced by issuing new bonds. b. interest on the public debt equals GDP. c. national debt cannot be shifted to future generations for repayment. d. federal government cannot refinance the outstanding national debt.

The ________ approach is a method of calculating GDP by adding up all payments to owners of resources used to produce output during the year

a. expenditure b. income c. double counting d. investment