Economics Today: The Macro View, Student Value Edition (19th Edition)
Economics Today: The Macro View, Student Value Edition (19th Edition)
19th Edition
ISBN: 9780134478883
Author: Miller, Roger LeRoy
Publisher: PEARSON
Question
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Chapter 14, Problem 14P
To determine

Concept introduction:

Federal Budget Deficit- The excess of government spending over the revenues is the budget deficit of the US government. It is indicative of the financial health of the economy.

Net Public Debt- The debt carried by the US government to plug the Federal Budget Deficit as outstanding Treasury Securities of the US Federal agencies. National debt also known as the Gross Debt has two prime components (a) Debt held by the public as treasury securities and (b) Intra-governmental debts as Social Security Trust Fund. Net Public Debt (B) is the Gross Public Debt less the intra-governmental debt.

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