Which of the following statements is true?
A) A budget deficit occurs when government expenditures exceed tax receipts during any single year.
B) The public debt is the total amount the federal government owes its creditors.
C) The public debt is greater than the net public debt.
D) b and c
E) a,b,and c

Question

Quizplus · Accepted Answer

A) True, a budget deficit happens when a government spends more than it collects in taxes in a given year. B) True, public debt refers to the total amount owed by the federal government to its creditors. C) True, the public debt includes all government debt, while the net public debt subtracts the government's holdings of its own debt, making the public debt larger than the net public debt.

Which of the Following Statements Is True