The Net National Debt Is Smaller Than the Gross National

question 34

Multiple Choice

The net national debt is smaller than the gross national debt because

• A)some debt is held by foreigners.
• B)some debt is held by U.S.citizens.
• C)some debt is held by government agencies.
• D)the government does not have to pay all of the debt.

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Definitions:

The Deficit

The financial situation in which a government's expenditures exceed its revenues, leading to borrowing and national debt.

Employment Grew

Describes a situation where the number of individuals in a workforce increases over a particular period of time, indicating economic expansion or recovery.

Healthcare Reform Initiative

Efforts and policies implemented to improve, reform, or overhaul a country's healthcare system with the goal of increasing accessibility, quality, and affordability of healthcare.

President Bill Clinton

The 42nd President of the United States, serving from 1993 to 2001, and a member of the Democratic Party known for his policies on welfare reform, healthcare, and the economy.