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

Question

Quizplus · Accepted Answer

Net public debt is the gross public debt minus all governmental interagency borrowing. This is because interagency borrowing is borrowing between departments within the same government, and therefore does not represent a liability to the public.

Net Public Debt Is Equal to