The difference between the gross public debt and the net public debt is that the
A) gross public debt includes entitlements while the net public debt does not.
B) gross public debt is based on budget deficit while the net public debt is not based on budget deficits.
C) gross public debt includes government interagency borrowing while the net public debt does not.
D) the gross public debt is expressed as a percentage of GDP while the net public debt is not.
C
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Indicate whether the statement is true or false
An element of trust is built into money because
A. people must trust that the government can always print more of it if necessary. B. people must trust that it will still have value when they want to spend it in the future. C. the government maintains a monopoly over the money supply, and people tend to trust monopolies. D. people must trust the Federal Reserve to prevent banks from failing.
The CPI in 1974 equaled 0.49. The CPI in 1975 equaled 0.54. The rate of inflation between 1974 and 1975 was ________ percent.
A. 5.0 B. 5.4 C. 10.2 D. 9.3
A fixed exchange rate is an exchange rate whose value:
A. reflects the comparative advantage of the home country versus other foreign countries. B. is established annually by the International Monetary Fund. C. varies according to supply and demand for the currency in the foreign exchange market. D. is set by official government policy.