The difference between net public debt and gross public debt is
A) all government interagency borrowing.
B) the interest paid annually on the public debt.
C) the amount owed to individuals and firms outside the United States.
D) the current year's budget deficit from the amount of public debt at the start of the year.

Question

Quizplus · Accepted Answer

Net public debt is the gross public debt minus interagency borrowing, which refers to borrowing from one government agency to another. Therefore, the difference between net public debt and gross public debt is all government interagency borrowing.

The Difference Between Net Public Debt and Gross Public Debt