The Net Public Debt Is Defined as

question 19

Multiple Choice

The net public debt is defined as

• A) the total amount owed by all individuals, corporations, and governments in the United States.
• B) the total amount owed by the federal government to individuals, businesses, and foreigners.
• C) a percentage of the gross national product not to exceed 10 percent of all gross sales.
• D) money not available for use.
• E) the total amount owed by the federal government to individuals, businesses, and foreigners, as well as interagency borrowings within the government.

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Definitions:

Public Ownership

Organization owned and operated by a unit or agency of government.

Employee Ownership

Business ownership in which workers own shares of stock in the company that employs them.

Subchapter S Corporation

A form of corporation in the United States that meets specific Internal Revenue Code requirements, allowing it to be taxed as a pass-through entity, thus avoiding double taxation.

Shareholders

Individuals or entities that own one or more shares of stock in a company, and therefore have a financial interest in its performance.