SS#14-C- The National Debt(Sources: "Financing the National Debt," ch. 13 p. 348-349/357-358; "Debt Ceiling," ch. 13 p. 353/359-360)13. If the federal government has a budget deficit in one fiscal year:a. the federal government must raise taxes to pay off the deficit.b. the federal government must either cut spending or raise taxes to pay off the deficit.C. the interest rate on U.S. government bonds must increase.d. the national debt will increase by the amount of the budget deficit.14. The national debt is the:difference between a nation's exports and imports of goods and servicessum of the personal debt of all citizens in the United StatesC.total amount owed by the federal government to owners of government securitiesd. difference between the government's revenues and expenditures in one fiscal yeara.b.SS#14-D-The Debate over Deficits and the Debt(Sources: "Why Worry over the National Debt?" text ch. 13 p. 353-363/362-372; "Three Questions," p. 4 of SS#14)15. Each year it is mandatory for the federal government to:repay its debta.b. repay its debt to foreigners (the external debt)C.pay interest on its outstanding bonds (debt)d.run a budget surplus if it had a budget deficit in the previous year16. Crowding out refers to the situation in which:increased borrowing by the federal government raises interest rates and decreases investmentincreased borrowing by the federal government improves business expectations and increases investmenta.b.c. foreigners sell their U.S. government bonds and purchase U.S. goods and servicesd. increased federal taxes to balance the budget cause increased interest rates and decreased consumer borrowingMLDING1 p.0"/

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SS#14-C-The National Debt (Sources: "Financing the National Debt," ch. 13 p. 348-349/357-358; "Debt Ceiling," ch. 13 p. 353/359-360) 13. If the federal government has a budget deficit in one fiscal year: a. the federal government must raise taxes to pay off the deficit. b. the federal government must either cut spending or raise taxes to pay off the deficit. C. the interest rate on U.S. government bonds must increase. d. the national debt will increase by the amount of the budget deficit. 14. The national debt is the: a. difference between a nation's exports and imports of goods and services b. sum of the personal debt of all citizens in the United States c. total amount owed by the federal government to owners of government securities d. difference between the government's revenues and expenditures in one fiscal year SS#14-D-The Debate over Deficits and the Debt 372- "Three Questions," p. 4 of SS#14) DING Р