Gross public debt is
A) the total value of budget deficits plus budget surpluses over the past five years.
B) an excess of government spending over government revenues during a given time period.
C) a situation in which the government's spending is exactly equal to the total taxes and other revenues it collects during a given time period.
D) all federal government debt irrespective of who owns it.
D
You might also like to view...
Refer to the table. The interest-rate effect of changes in the price level is shown by columns:
Answer the question on the basis of the following table for a particular country in which C is
consumption expenditures, I g is gross investment expenditures, G is government expenditures,
X is exports, and M is imports. All figures are in billions of dollars. Each question is
independent of other question using the same table, unless otherwise stated.
A. (1) and (4) of the table.
B. (5) and (6) of the table.
C. (1) and (3) of the table.
D. (2) and (4) of the table.
If there are no statistical discrepancies, NDP is:
a) NI minus net foreign factor income. b) NI plus corporate income taxes. c) GDP deflated for increases in the price level. d) GDP minus taxes on production and imports.