The U.S. Public Debt

question 179

Multiple Choice

The U.S. public debt

• A) refers to the debts of all units of government-federal, state, and local.
• B) consists of the total debt of U.S. households, businesses, and government.
• C) refers to the collective amount that U.S. citizens and businesses owe to foreigners.
• D) consists of the historical accumulation of all past federal deficits and surpluses.

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Definitions:

Factory Overhead

All indirect costs associated with manufacturing, excluding direct materials and direct labor.