The National Debt

question 98

Multiple Choice

The national debt:

• A)is a flow variable measuring the net accumulation of past deficits.
• B)is a stock variable measuring the net accumulation of past deficits.
• C)measures the amount by which government revenues exceed outlays in a particular year.
• D)includes the projected liabilities of Social Security,Medicare,and other federal retirement programs.
• E)includes outstanding liabilities of federal,state,and local governments minus government financial assets.

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Definitions:

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