7 The total amount owed by the federal government to the public isknown as theA) federal budget deficit.B) federal debt.O C) federal defaultO

The federal government plays a central role in managing fiscal policy, influencing economic activity…

Answered: The total amount owed by the federal…

The total amount owed by the federal government to the public is known as the O A) federal budget deficit. B) federal debt. C) federal default

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: Six Debates Over Macroeconomic Policy

Section: Chapter Questions

Problem 6QR

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Question

The total amount owed by the federal government to the public is
known as the
A) federal budget deficit.
B) federal debt.
O C) federal default
O

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1
ses Aside from the few years during Clinton's administration, what is the state of the national debt? Select one: O a. the debt is growing O b. the debt has been reduced considerably during the Bush and Obama administrations. O c. the debt is steadily shrinking O d. the debt is mostly staying the same Which president tried to limit