ECON MACRO (with ECON MACRO Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
5th Edition
ISBN: 9781305659094
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 12, Problem 3.7P
To determine
Difference between gross federal debt and federal debt held by the public.
Concept Introduction: Public debt is the amount of debt owed by a sovereign government to its creditors. When a country wants to raise money, the primary resource available is for the country to issue debt securities to the public. Public debt securities are items such as Treasury notes, Treasury bills and long-term Treasury bonds. Public debt securities issued by the government can be held by domestic or foreign interests, and the government has an obligation to repay the debt securities when they mature.
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Chapter 12 Solutions
ECON MACRO (with ECON MACRO Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
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