The difference between gross public debt and net public debt is that
A. net public debt is expressed in real terms while gross public debt is expressed in nominal terms.
B. gross public debt is held by individuals while net public debt is held by the government.
C. gross public debt includes interagency borrowing while net public debt does not.
D. net public debt includes interagency borrowing while the gross domestic product debt does not.
Answer: C
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A budget deficit
a. changes the supply of loanable funds. b. changes the demand for loanable funds. c. changes both the supply of and demand for loanable funds. d. does not influence the supply of or the demand for loanable funds.
The purpose of the Corn Laws was to
A. discourage imports and encourage exports, and thus keep the price of food high. B. encourage both exports and imports in order to integrate the British economy with the rest of Europe. C. discourage both imports and exports in order to promote economic self-sufficiency in Britain. D. encourage imports and discourage exports, and thus keep the price of food low.