The public debt is the
A) amount of U.S. paper currency in circulation.
B) ratio of all past deﬁcits to all past surpluses.
C) accumulation of all past deﬁcits minus all past surpluses.
D) difference between current government expenditures and current tax revenues.

Question

Quizplus · Accepted Answer

The public debt is the accumulation of all past deficits minus all past surpluses. This amount represents the total amount of money that the government owes to its creditors, such as bondholders and foreign governments.

The Public Debt Is the