Net public debt is equal to

A. the gross public debt plus all governmental interagency borrowing.
B. the gross public debt minus taxes paid by foreign corporations on their profits made in the United States.
C. the gross public debt minus current year tax revenue collection.
D. the gross public debt minus all governmental interagency borrowing.


Answer: D

Economics

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Which of the following is the largest category of federal government expenditures?

A) defense spending B) transfer payments C) interest on the debt D) grants to state and local governments

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The demand for a good is inelastic with respect to price if the price elasticity of demand is:

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The corporate tax applies to firms’ total revenues.

Answer the following statement true (T) or false (F)

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